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Qatar Committed to its Pledges to Release Iran's Assets

Qatar's Foreign Minister with his US counterpart (AFP)
Qatar's Foreign Minister with his US counterpart (AFP)
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Qatar Committed to its Pledges to Release Iran's Assets

Qatar's Foreign Minister with his US counterpart (AFP)
Qatar's Foreign Minister with his US counterpart (AFP)

Qatar announced it was "committed" to managing $6 billion in unfrozen Iranian funds under an agreement within the framework of a prisoner exchange deal between the United States and Iran.

Tehran issued a warning following US reports of an understanding between Doha and Washington to stop the funds following the Hamas attack on Israel.

Qatar's Prime Minister and Foreign Minister Mohammed bin Abdulrahman Al Thani said in a joint press conference with US Secretary of State Antony Blinken that the state of Qatar is always committed to any agreement, and every step must be done through consultations with other partners that fund.

Earlier, Iran said the US could not "withdraw" from the Qatar-sponsored agreement to release $6 billion of Tehran's assets.

On Thursday, the US said Iran would not gain access to $6 billion in Iranian funds parked in a Qatar bank last month as part of a prisoner exchange and that Washington retained the right to freeze the account entirely.

The question of Iranian access to the funds has been in the spotlight since Iran-backed Palestinian Hamas militants attacked Israel on Saturday.

Last month, Washington and Tehran agreed to transfer $6 billion of Iranian assets frozen in South Korea to a particular account in Qatar, and Iran released five US detainees after moving money to accounts in Doha.

The deal sparked widespread controversy among circles. Republicans accused the Biden administration of submitting to what has come to be known as "hostage diplomacy," referring to Iran detaining Western nationals on its territory before releasing them after receiving concessions.

"Iran will not be able to access the funds for the foreseeable future," a senior US official, speaking anonymously, told Reuters.

Blinken stated in a press conference in Tel Aviv that Iran did not receive these funds and did not spend any of them.

"None of the funds that have now gone to Qatar have been spent or accessed in any way by Iran. [..] We have strict oversight of the funds and retain the right to freeze them."

On Thursday, several US media outlets reported that the United States and Qatar agreed to prevent Iran from accessing the funds.

- Qatari Iranian talks

The official IRNA news agency reported that the Governor of Qatar's Central Bank, Sheikh Bandar bin Mohammed bin Saoud Al Thani, met his Iranian counterpart, Mohammad-Reza Farzin, on Saturday on the sidelines of the annual meetings of the International Monetary Fund and the World Bank in Morocco.

The Qatari official asserted that his country is fully committed to all its obligations with Iran, and there is no obstacle to bolstering banking relations between the two countries.

"The rumors about the refreezing of Iran's funds in Qatari banks were of no real value and were more like a joke and media game," Al Thani said, according to IRNA.

The Iranian agency added that Farzin said that considering that Iran's freed financial resources can be used in Qatar through SWIFT and with openings of LCs, technical communication between Qatari banks and six Iranian banks is underway.

"By establishing these technical connections, the operating banks send and operate the necessary payment orders," he said.

Iranian oil revenues were frozen in Seoul after Washington, under former President Donald Trump, imposed a comprehensive embargo on Iranian oil exports and sanctions on its banks in 2019.

- The White House refuses to confirm

White House national security spokesman John Kirby declined to speak about diplomatic conversations or "speculate ... about future transactions."

He said the money was intended to be disbursed "to approved vendors - that we approved - to buy food, medicine and medical equipment, agricultural products, and ship it into Iran directly to the benefit of the Iranian people."

"Every single dime of that money is still sitting in the Qatari bank," Kirby told reporters, adding: "The regime was never going to see a dime of that money."

Meanwhile, Agence France Presse reported that Iran's permanent mission to the UN spokesman Ali Karimi Magham said late Thursday in a post on X that the US government knows it can NOT renege on the agreement.

"The money rightfully belongs to the people of Iran, earmarked for the government of the Islamic Republic of Iran to facilitate the acquisition of all essential requisites for the Iranians," he added.

- Possible penalties

Speculation has increased about whether the United States will tighten the restrictions it imposes on Iranian oil exports following the surprise attack launched by the Hamas movement on Israel last week.

US Treasury Secretary Janet Yellen said Wednesday that additional US sanctions could be coming in response to the attack on Israel by Hamas.

"I wouldn't take anything off the table regarding future possible actions, but I certainly don't want to get ahead of where we are now," Yellen said during a press conference in Marrakech, Morocco, according to Bloomberg.

Yellen rejected a widely circulated idea that the United States had gradually eased some of the sanctions it imposed on Iranian oil sales as part of broader efforts to achieve diplomatic rapprochement.

Since Hamas's unprecedented al-Quds Flood operation against Israel on Saturday, attention has turned to Iran because of its support for the movement for many years.

Despite the close relationship, Iranian leaders confirmed that their country was not involved in the Hamas attack on Israel but expressed their support for the operation.

On Wednesday, US President Joe Biden warned Iran against getting involved in the Israeli conflict with Hamas.

The US special envoy to Iran late Friday that he discussed with a senior official in the Israeli Foreign Ministry joint efforts to counter threats posed by Iran to the interests of the United States and Israel.

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How Likely Is the Use of Nuclear Weapons by Russia?

This photograph taken at a forensic expert center in an undisclosed location in Ukraine on November 24, 2024, shows parts of a missile that were collected for examination at the impact site in the town of Dnipro following an attack on November 21. (Photo by Roman PILIPEY / AFP)
This photograph taken at a forensic expert center in an undisclosed location in Ukraine on November 24, 2024, shows parts of a missile that were collected for examination at the impact site in the town of Dnipro following an attack on November 21. (Photo by Roman PILIPEY / AFP)
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How Likely Is the Use of Nuclear Weapons by Russia?

This photograph taken at a forensic expert center in an undisclosed location in Ukraine on November 24, 2024, shows parts of a missile that were collected for examination at the impact site in the town of Dnipro following an attack on November 21. (Photo by Roman PILIPEY / AFP)
This photograph taken at a forensic expert center in an undisclosed location in Ukraine on November 24, 2024, shows parts of a missile that were collected for examination at the impact site in the town of Dnipro following an attack on November 21. (Photo by Roman PILIPEY / AFP)

On 24 February 2022, in a televised speech heralding the Russian invasion of Ukraine, President Vladimir Putin issued what was interpreted as a threat to use nuclear weapons against NATO countries should they interfere.

“Russia will respond immediately,” he said, “and the consequences will be such as you have never seen in your entire history.”

Then on 27 February 2022, Putin ordered Russia to move nuclear forces to a “special mode of combat duty’, which has a significant meaning in terms of the protocols to launch nuclear weapons from Russia.”

Dr. Patricia Lewis, director of the International Security program at Chatham House, wrote in a report that according to Russian nuclear weapons experts, Russia’s command and control system cannot transmit launch orders in peacetime, so increasing the status to “combat” allows a launch order to go through and be put into effect.

She said Putin made stronger nuclear threats in September 2022, following months of violent conflict and gains made by a Ukrainian counterattack.

“He indicated a stretch in Russian nuclear doctrine, lowering the threshold for nuclear weapons use from an existential threat to Russia to a threat to its territorial integrity,” Lewis wrote.

In November 2022, according to much later reports, the US and allies detected manoeuvres that suggested Russian nuclear forces were being mobilized.

Lewis said that after a flurry of diplomatic activity, China’s President Xi Jinping stepped in to calm the situation and speak against the use of nuclear weapons.

In September 2024, Putin announced an update of the 2020 Russian nuclear doctrine. The update was published on 19 November 2024 and formally reduced the threshold for nuclear weapons use.

According to Lewis, the 2020 doctrine said that Russia could use nuclear weapons “in response to the use of nuclear and other types of weapons of mass destruction against it and/or its allies, as well as in the event of aggression against the Russian Federation with the use of conventional weapons when the very existence of the state is in jeopardy.”

On 21 November 2024, Russia attacked Dnipro in Ukraine using a new ballistic missile for the first time.

She said Putin announced the missile as the ‘Oreshnik’, which is understood to be a nuclear-capable, intermediate-range ballistic missile which has a theoretical range of below 5,500km.

Lewis added that Russia has fired conventionally armed nuclear-capable missiles at Ukraine throughout the war, but the Oreshnik is much faster and harder to defend against, and suggests an escalatory intent by Russia.

Nuclear Response During Cold War

In her report, Lewis said that nuclear weapons deterrence was developed in the Cold War primarily on the basis of what was called ‘mutually assured destruction’ (MAD).

The idea behind MAD is that the horror and destruction from nuclear weapons is enough to deter aggressive action and war, she added.

But the application of deterrence theory to post-cold war realities is far more complicated in the era of cyberattacks and AI, which could interfere with the command and control of nuclear weapons.

In light of these risks, presidents Biden and Xi issued a joint statement from the 2024 G20 summit affirming the need to maintain human control over the decision to use nuclear weapons.

The US and Russia exchange information on their strategic, long-range nuclear missiles under the New START agreement – a treaty to reduce and monitor nuclear weapons between the two countries which is set to expire in February 2026.

But, Lewis said, with the US decision to exit the Intermediate Nuclear Forces (INF) Treaty in 2019, there are no longer any agreements between the US and Russia regulating the number or the deployment of ground-launched nuclear missiles with a range of 500-5,500 km.

She said short-range nuclear weapons were withdrawn and put in storage as a result of the 1991 Presidential Nuclear Initiatives but are not subject to any legal restraints.

The 10th NPT Review Conference was held in 2022 in New York. The issue of nuclear weapons threats and the targeting of nuclear power stations in Ukraine were central to the debate.

Lewis noted that a document was carefully crafted to finely balance concerns about the three pillars of the treaty – non-proliferation, nuclear disarmament and the peaceful uses of nuclear energy. But Russia withdrew its agreement on the last day of the conference, scuppering progress.

“It was believed that if Russia were to use nuclear weapons it would likely be in Ukraine, using short range, lower yield ‘battlefield’ nuclear weapons,” she said, adding that Russia is thought to have more than 1,000 in reserve.

“These would have to be taken from storage and either connected to missiles, placed in bombers, or as shell in artillery,” Lewis wrote.

Increasingly the rhetoric from Russia suggests nuclear threats are a more direct threat to NATO – not only Ukraine – and could refer to longer range, higher yield nuclear weapons.

For example in his 21 September 2022 speech, Putin accused NATO states of nuclear blackmail, referring to alleged “statements made by some high-ranking representatives of the leading NATO countries on the possibility and admissibility of using weapons of mass destruction – nuclear weapons – against Russia.”

Putin added: “In the event of a threat to the territorial integrity of our country and to defend Russia and our people, we will certainly make use of all weapon systems available to us. This is not a bluff.”

There have been no expressed nuclear weapons threats from NATO states.

NATO does rely on nuclear weapons as a form of deterrence and has recently committed to significantly strengthen its longer-term deterrence and defence posture in response to Russia’s invasion of Ukraine.

The current UK Labor government has repeatedly reiterated its commitment to British nuclear weapons – including before the July 2024 election, according to Lewis.

Therefore, she said, any movement to ready and deploy Russian nuclear weapons would be seen and monitored by US and others’ satellites, which can see through cloud cover and at night – as indeed appears to have happened in late 2022.

Lewis concluded that depending on other intelligence and analysis – and the failure of all diplomatic attempts to dissuade Russia – NATO countries may decide to intervene to prevent launch by bombing storage sites and missile deployment sites in advance.