Iranian money held at banks in Qatar, South Korea and beyond.
WASHINGTON — The Biden administration has cleared the way for the release of five American citizens detained in Iran by issuing a blanket waiver for international banks to transfer $6 billion in frozen Iranian money from South Korea to Qatar without fear of U.S. sanctions. In addition, as part of the deal, the administration has agreed to release five Iranian citizens held in the United States.
The waiver is likely to draw criticism of President Joe Biden from Republicans and others that the deal will boost the Iranian economy at a time when Iran poses a growing threat to U.S. troops and Mideast allies.
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