Washington: In a significant diplomatic development, the United States has granted a waiver to allow the transfer of $6 billion in Iranian funds from South Korea to Qatar, a critical step in executing the previously announced US-Iran prisoner exchange. This momentous decision was revealed in a document obtained by Reuters on Monday.

The US-Iran deal, which had its broad outlines disclosed on August 10, entails the release of five US citizens detained by Iran in exchange for the transfer of funds and the release of five Iranians held in the United States. 

According to the document sent to US congressional committees, Secretary of State Antony Blinken determined that waiving the sanctions was essential to safeguard the national security interests of the United States.

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This document marks the first official acknowledgment by the US government that it is releasing five Iranians detained within its borders as part of the agreement to secure the freedom of the five US citizens.

"To facilitate their release, the United States has committed to release five Iranian nationals currently detained in the United States and to permit the transfer of approximately $6 billion in Iranian funds held in restricted accounts in the Republic of Korea to restricted accounts in Qatar, where the funds will be available only for humanitarian trade," it stated.

It is worth noting that the transferred funds will have a limited scope of use, restricted exclusively to humanitarian trade. This approach aligns with the United States' intention to ensure that the funds do not inadvertently support activities outside the realm of humanitarian aid.

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"Allowing these funds to be transferred from restricted Iranian accounts held in the Republic of Korea to accounts in Qatar for humanitarian trade is necessary to facilitate the release of these US citizens," the document emphasized.

In response to these developments, White House spokesperson Adrienne Watson clarified that Secretary of State Blinken had taken "a procedural step in an ongoing process" on September 8 to facilitate the transfer of Iranian funds, ensuring they remain designated for humanitarian trade. Importantly, Watson emphasized that no individuals had been or would be released into US custody during the week.

Furthermore, the timeline for the transfer of the $6 billion and the subsequent prisoner exchange appears to be expedited. Iranian and other sources familiar with the negotiations suggest that these actions could take place as early as next week.

The waiver issued by the United States pertains to specific financial institutions that fall under the primary jurisdiction of Germany, Ireland, Qatar, South Korea, and Switzerland. 

These institutions will be permitted to engage in transactions with entities such as the National Iranian Oil Company, the Central Bank of Iran, and other Iranian financial institutions that are currently under US sanctions.

This diplomatic breakthrough demonstrates a willingness on both sides to engage in constructive dialogue and prioritize the humanitarian aspect of international relations. 

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The prisoner exchange and the transfer of funds mark a significant step towards de-escalating tensions between the United States and Iran.

As the details continue to emerge and the process unfolds, the international community will closely monitor these developments, hoping that this initiative contributes to improved relations between the two nations. 

The release of detainees and the allocation of funds for humanitarian purposes represent a promising path forward for diplomacy and reconciliation on the global stage.