- Tehran’s overseas funds become a key bargaining chip. The fate of the assets is expected to remain one of the most difficult issues in any final agreement between the two sides.
Iran is seeking access to tens of billions of dollars in frozen overseas assets held across several countries, including China, Iraq, India and South Korea, as sanctions relief becomes a central issue in ongoing negotiations with the United States.
Tehran says more than $100 billion of its funds remain blocked abroad, though external estimates place the figure lower. The issue has emerged as a key bargaining chip in talks aimed at a broader agreement covering sanctions relief, nuclear restrictions and regional security arrangements.
According to the Wall Street Journal, Iranian officials are seeking the phased release of at least $24 billion in overseas assets as part of efforts to stabilize an economy hit by years of sanctions, currency volatility and restricted oil revenues.
China is believed to hold the largest share of Iran’s frozen funds, with estimates ranging from $20 billion to $50 billion, largely accumulated from oil sales conducted despite U.S. sanctions. Much of the money remains inaccessible due to restrictions on international financial transfers and the dominance of the U.S. dollar-based banking system.
Some of the funds are reportedly used for limited trade in goods such as machinery and equipment, but significant balances remain locked in local accounts.
Iraq is estimated to hold between $10 billion and $15 billion, linked mainly to payments for Iranian electricity and natural gas exports. However, U.S. sanctions have restricted Baghdad’s ability to transfer the funds freely.
India and South Korea each account for roughly $7 billion in frozen payments tied to Iranian oil purchases made before Washington re-imposed sanctions in 2018.
Smaller amounts are also believed to be held in other jurisdictions, often in local currencies that cannot be easily repatriated.
The frozen assets have taken on renewed importance as Iran seeks economic relief in exchange for potential concessions in broader negotiations with Washington. Access to the funds could help Tehran stabilize its currency, finance imports and support recovery in an economy under sustained pressure.
The fate of the assets is expected to remain one of the most difficult issues in any final agreement between the two sides.
