US waives sanction to allow $6 billion release to Iran for prisoner exchange

U.S. Secretary of State Antony Blinken has issued a waiver to American sanctions to allow the transfer of $6 billion in Iranian funds from South Korea to Qatar as part of a U.S.-Iran prisoner swap, according to a U.S. document seen by Reuters on Monday.

Blinken notified Congress on Monday of the waiver, which lets German, Irish, Qatari, South Korean and Swiss banks facilitate the transfer of the $6 billion from Iranian oil sales that was frozen by South Korea. He said the administration had determined that the waiver benefits US national security.

The US also committed to release five Iranians in US custody, Blinken said. He said the $6 billion would be held in restricted accounts in Qatar, were they will be “available only for humanitarian trade.”

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