Vance unveils plan for Iran funds, US farm exports

Burgenstock (Switzerland), June 22 (IANS) US Vice President J D Vance on Monday outlined a proposal that could see any future release of frozen Iranian assets used to purchase American agricultural products, presenting the idea as a potential component of a broader agreement emerging from ongoing negotiations with Tehran.

The proposal, disclosed during a briefing in Burgenstock, Switzerland, marks one of the clearest indications yet of how the Trump administration is thinking about the economic dimension of a possible deal with Iran.

While much of the focus has been on nuclear inspections, regional security and the Strait of Hormuz, Vance revealed that negotiators had also discussed mechanisms to govern the use of frozen Iranian funds if sanctions-related restrictions are eased in the future.

“One of the other things that we wanted to do … we wanted to make sure that we set up a process where if we ever unfreeze Iranian assets, we can ensure that those, that that money, that Iranian money, goes to help the people of Iran and not to fund terrorism,” Vance said.

The Vice President said discussions involving Qatar had produced a framework under which any future release of Iranian funds would be tightly monitored.

“Jared Kushner actually came up with a very interesting solution with the Qataris,” Vance said.

Under the proposal, he said, the United States and Qatar would oversee how the money is spent.

“Basically, again, if there is any frozen Iranian assets that are unfrozen, then we have approval over that process. The Qataris have approval over that process,” he said.

According to Vance, the funds would be directed towards purchasing American agricultural commodities rather than being transferred directly to Tehran.

“The money would actually go to buy American soy, American corn and American wheat for the benefit of the Iranian people,” he said.

Vance described the proposal as beneficial to both countries.

“If Iranian assets are ever unfrozen, they’re going to go to make American farmers richer and to feed the Iranian people,” he said.

“That’s a very, very good and very classic Trump deal.”

The Vice President did not say whether Iranian negotiators had formally accepted the proposal. He also declined to provide details on the amount of frozen assets that could potentially be covered by such an arrangement.

The remarks came after Vance announced what he called significant progress in talks with Iran, including Tehran’s agreement to invite inspectors from the International Atomic Energy Agency (IAEA) back into the country. He said technical negotiations would continue in the coming days and weeks as both sides seek to build on the framework established in Switzerland.

–IANS

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