Iran Steps Closer to Recover $7 Billion of Frozen Assets

 Iran’s foreign ministry spokesman Saeed Khatibzadeh speaks to media during a press conference in Tehran on November 15, 2021. (AFP)
Iran’s foreign ministry spokesman Saeed Khatibzadeh speaks to media during a press conference in Tehran on November 15, 2021. (AFP)
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Iran Steps Closer to Recover $7 Billion of Frozen Assets

 Iran’s foreign ministry spokesman Saeed Khatibzadeh speaks to media during a press conference in Tehran on November 15, 2021. (AFP)
Iran’s foreign ministry spokesman Saeed Khatibzadeh speaks to media during a press conference in Tehran on November 15, 2021. (AFP)

Iran’s Foreign Ministry spokesman Saeed Khatibzadeh said on Monday that part of the Iranian assets frozen under US sanctions “will be released soon,” without giving further details.

The official IRNA news agency quoted Khatibzadeh as saying that the necessary framework for removing the blockade of a “significant part” of Iran's frozen assets has been determined.

His statements came about an hour after his weekly press conference, where he denied being well-informed about the release of the frozen assets or the imminent visit of a regional official.

IRNA had reported that a high-ranking regional official “will travel to Tehran on Tuesday to finalize the mechanism for launching $7 billion.”

“According to the agreement reached with countries that have contracts with Iran, the framework was set for lifting the seizure of a significant part of the country’s frozen assets,” IRNA said, noting that the agreement provides for the transfer of Iranian assets to the country’s bank accounts within weeks.

The agency noted that the framework “is similar to that agreed upon with Britain,” in reference to the British-Iranian deal under which debts were paid to Iran in exchange for the release of Britons of Iranian origin.

In turn, Tasnim agency, which is affiliated with the Iranian Revolutionary Guards, reported that the Iranian assets “are likely to be transferred to the (branch) account of the Central Bank of Iran in Amman, while a senior regional official is arriving to finalize the mechanism for releasing the $7 billion.”

However, Khatibzadeh expressed on Monday Iranian doubts about the “determination” of the United States to reach an understanding to revive the 2015 nuclear agreement, speaking of continuing differences after a year of negotiations between Tehran and the six great powers.

“We really don’t know if we’ll get a deal or not, because the United States hasn’t shown the necessary will to reach an agreement,” Khatibzadeh said, as quoted by AFP.

“All components of maximum pressure must be removed,” he added. “Unfortunately, the United States is trying to maintain some of the elements of maximum pressure.”



US Says Deal with Beijing Will Expedite Rare Earth Exports from China

 A sample of samarium (Sm) is displayed at the Laboratory of Physics and Material studies (LPEM) in Paris, France, June 23, 2025. (Reuters)
A sample of samarium (Sm) is displayed at the Laboratory of Physics and Material studies (LPEM) in Paris, France, June 23, 2025. (Reuters)
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US Says Deal with Beijing Will Expedite Rare Earth Exports from China

 A sample of samarium (Sm) is displayed at the Laboratory of Physics and Material studies (LPEM) in Paris, France, June 23, 2025. (Reuters)
A sample of samarium (Sm) is displayed at the Laboratory of Physics and Material studies (LPEM) in Paris, France, June 23, 2025. (Reuters)

The United States has reached an agreement with China on how to expedite rare earth shipments to the US, a White House official said on Thursday, amid efforts to end a trade war between the world's biggest economies. 

President Donald Trump earlier said the United States had signed a deal with China on Wednesday, without providing additional details, and that there might be a separate deal coming up that would "open up" India. 

During US-China trade talks in May in Geneva, Beijing committed to removing non-tariff countermeasures imposed against the United States since April 2, although it was unclear how some of those measures would be walked back. 

As part of its retaliation against new US tariffs, China suspended exports of a wide range of critical minerals and magnets, upending the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world. 

"The administration and China agreed to an additional understanding for a framework to implement the Geneva agreement," a White House official said on Thursday. 

The understanding is "about how we can implement expediting rare earths shipments to the US again", the official said. 

A separate administration official said the US-China agreement took place earlier this week. 

US Commerce Secretary Howard Lutnick was quoted as saying by Bloomberg: "They’re going to deliver rare earths to us" and once they do that "we'll take down our countermeasures." 

China's embassy in Washington did not immediately respond to a request for comment. 

While the agreement shows potential progress following months of trade uncertainty and disruption since Trump took office in January, it also underscores the long road ahead to a final, definitive trade deal between the two economic rivals. 

China has been taking its dual-use restrictions on rare earths "very seriously" and has been vetting buyers to ensure that materials are not diverted to US military uses, according to an industry source. This has slowed down the licensing process. 

The Geneva deal had faltered over China's curbs on critical minerals exports, prompting the Trump administration to respond with export controls of its own preventing shipments of semiconductor design software, aircraft and other goods to China. 

In early June, Reuters reported China had granted temporary export licenses to rare-earth suppliers of the top three US automakers, according to two sources familiar with the matter, as supply chain disruptions began to surface from export curbs on those materials. 

Later in the month, Trump said there was a deal with China in which Beijing would supply magnets and rare earth minerals while the US would allow Chinese students in its colleges and universities.