Charles Langston-U.S. reaches "quiet understanding" with Qatar not to release $6 billion in Iranian oil revenues

2025-05-01 23:48:43source:PredictIQcategory:Stocks

The Charles LangstonU.S. has reached a "quiet understanding" with Qatar not to release any of the $6 billion in Iranian oil revenues that was unfrozen as part of the prisoner swap last month, a source with knowledge of the arrangement told CBS News.

Deputy Treasury Secretary Wally Adeyemo informed House Democrats of that understanding in a closed-door meeting Thursday morning.

As part of the high-stakes deal to release five Americans who had been wrongfully detained in Iran, the Biden administration included the transfer of the Iranian oil assets from a restricted account in South Korea to Qatar.

Many Republicans have criticized the Biden administration for releasing the funds, claiming it freed up resources for Iran to support the attack. Administration officials have said since the attacks began that Iran has long supported Hamas with material, financial and logistical support, but to date, no evidence has been found to link the surprise attacks to Tehran. 

The Biden administration has said that the money would not be given directly to Iran and that it could only be used to fund Iran's purchases of humanitarian goods, such as food and medicine, though Iran's president has said he would decide how to spend the previously frozen funds.

In his closed-door meeting with the House Democrats, Adeyemo said the $6 billion "isn't going anywhere anytime soon." His comments were first reported by Punchbowl News.

The timing of the understanding that was reached was not disclosed by the source, so it is not known whether this transpired after Hamas attacked Israel over the weekend.

But even before this understanding, the mechanism for Iran to access the funds was heavily scrutinized and quite complicated. Iran was unlikely to be able to get to the funds quickly, even for legitimate humanitarian efforts.

In a briefing with reporters on Thursday afternoon, White House national security spokesman John Kirby insisted that "the regime was never going to see a dime of that money."

Caitlin Yilek and Olivia Gazis contributed to this report.

    In:
  • Iran
  • Israel
Nancy Cordes

Nancy Cordes is CBS News' chief White House correspondent.

Twitter

More:Stocks

Recommend

McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales

Global consulting firm McKinsey & Company agreed Friday to pay $650 million to resolve criminal

How did Kyle Shanahan become one of NFL's top minds? Let his father chart 49ers coach's rise

LAS VEGAS – There's no sudden urge for Mike Shanahan to offer his son any grand, unsolicited advice

Breaking down everything we know about Taylor Swift's album 'Tortured Poets Department'

Taylor Swift will release her 11th album on April 19, and here’s everything we know about “The Tortu