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USA Allows Release of $6 Billion in Oil Proceeds to Iran

September 12, 2023 by

Secretary of State Antony Blinken notified Congress on Monday of a waiver that will let German, Irish, Qatari, South Korean and Swiss banks transfer the $6 billion from South Korea without fear of running afoul of US sanctions. He said the $6 billion would be held in restricted accounts in Qatar, where it will be “available only for humanitarian trade,” according to a copy of the notification.

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