Iran Unfreezes $6 Billion in Assets Amid Ongoing Tensions in Persian Gulf

Iranian President Masoud Pezeshkian said on Monday that $6 billion of Iran's $12 billion in frozen assets in Qatar will soon be defreezed. The statement comes at a time when the ongoing negotiations between the United States and Iran are clouded by the recent attacks in the Persian Gulf. Pezeshkian's statement is said to be an attempt to reassure the country's public in favor of an interim agreement. Especially when efforts are underway to open Oman's maritime territory to Gulf-bound vessels to challenge Iran's hold on Hormuz. Iranian attacks and threats have almost brought the movement of cargo ships and oil tankers from Hormuz to a standstill. About 20 percent of the world's oil and natural gas trade in peacetime passes through this waterway. Although this global energy bottleneck has long existed between Iran and Oman, it has been located on the Gulf's seaward side.