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How much of Iran’s money is frozen across banks in US and how long can it run country’s economy? Amount will leave you surprised, it is Rs…
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Senior Iranian officials have claimed that the United States has shown some flexibility regarding Iran’s frozen overseas assets. According to reports, ongoing talks between the two countries could lead to nearly 25% of certain blocked Iranian funds being unfrozen. For years, billions of dollars belonging to Iran have remained inaccessible because of US sanctions and banking restrictions.
How much Iranian money is frozen in the US?
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International reports suggest that around USD 2 billion worth of Iranian assets are directly frozen inside the United States. Apart from this, US authorities have also reportedly seized nearly USD 500 million worth of Iran-linked cryptocurrency assets in recent sanctions-related actions.
Why the amount is considered small
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Although USD 2 billion is a massive amount, experts believe it is relatively small compared to Iran’s overall economic needs. Reports suggest that this amount would only be enough to cover the Iranian government’s operational expenses for about one week. Considering the scale of Iran’s economy and public spending, the frozen US-based funds are viewed as limited.
More than USD 100 billion frozen worldwide
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Iran’s biggest financial challenge lies outside the United States. According to reports, more than USD 100 billion of Iranian funds are currently frozen or restricted in different countries because of international sanctions and banking controls. This amount is considered extremely important for Iran’s economy and is believed to be equal to nearly one-fourth of the country’s total GDP.
Why these funds matter to Iran
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Experts say that if Iran suddenly gains access to all of its frozen overseas assets, the country could comfortably support its economy for more than a year despite sanctions and external economic pressure. The restricted funds have become one of the most important economic issues for Tehran in recent years.
Which countries hold Iran’s frozen assets?
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Iran’s blocked assets are spread across several countries due to years of sanctions affecting oil payments and international banking transactions. Reports suggest that China holds the largest share with nearly USD 20 billion. India reportedly holds around USD 7 billion linked to earlier oil imports from Iran. Meanwhile, Iraq and Qatar together hold nearly USD 6 billion in Iranian assets. Japan reportedly has around USD 1.5 billion, while financial institutions in parts of Europe are believed to hold nearly USD 1.6 billion in restricted Iranian funds.
