President Masoud Pezeshkian announced Monday that $6 billion of Iranian resources held in Qatar would be released and returned to the country. He hailed the interim deal with the United States as "a great victory for the Iranian people," according to comments published by the state-run IRNA news agency. Pezeshkian stated that "necessary follow-ups are being carried out" for the transfer of these funds, which represent half of the total $12 billion in Iranian assets in Qatar.
The Iranian president's declaration came as President Donald Trump claimed Iran had requested a meeting with U.S. counterparts. Trump posted on social media that a meeting with Iran was scheduled for Tuesday in Doha, Qatar. White House press secretary Karoline Leavitt confirmed that Trump special envoy Steve Witkoff and Jared Kushner, the president's son-in-law, were traveling to Qatar for the talks. However, Kazem Gharibabadi, a senior negotiator for Iran, denied that any further talks had been scheduled, especially after attacks across the Persian Gulf over the weekend challenged negotiations to end the war.
Economic Pressure and Sanctions
An interim deal between the U.S. and Iran was agreed upon earlier this month. This arrangement mandates Tehran to dilute its stockpile of enriched uranium. It also waives U.S.-backed sanctions on the country, while opening the Strait of Hormuz and providing both sides 60 days to finalize broader agreements. Following the signing of this interim deal, oil prices experienced a sharp decline.
President Trump celebrated Monday morning that U.S. oil futures were trading at roughly $69 a barrel, a decrease he attributed to the deal. He suggested these lower prices would bolster his claims to voters ahead of November elections that inflation was easing. Yet, Trump falsely claimed that oil prices were lower than before the war began in late February.
Before the war, U.S. oil futures traded at approximately $65 to $66 per barrel. Brent crude, the international standard, was around $72 a barrel before the conflict and surged above $126 per barrel in April. On Monday, Brent crude traded at about $73.25 a barrel, still higher than its pre-war level.
Geopolitical Tensions in the Gulf
During the war that began Feb. 28, Iran's attacks and threats severely impacted cargo ships and tankers moving through the Strait of Hormuz. This disruption created a global energy crisis. Iran has twice attacked vessels in the strait in recent days, including a tanker carrying Qatari crude.
These incidents occurred after efforts to open Oman's territorial waters to both inbound and outbound traffic from the Persian Gulf. The attacks provoked retaliatory American airstrikes, raising concerns that negotiations to reach a formal end to the war could be disrupted. Iran also launched drone and missile attacks targeting Bahrain and Kuwait one day earlier, on Sunday.
Iran and Oman held a meeting about the strait on Monday in Oman. The Strait of Hormuz has long been considered an international waterway, despite its location within Iran and Oman's territorial waters.
Disputed Claims and Ongoing Negotiations
Pezeshkian's mention of the frozen funds appeared designed to garner public support for the interim deal within Iran, particularly as the country's control over the strait has been tested. However, U.S. officials have stated that no frozen Iranian assets have been released so far. Qatar has not acknowledged any such transfer, contradicting the Iranian president's announcement.
Pakistan, a key mediator in the ongoing discussions, has indicated that talks would resume Tuesday. The Trump administration confirmed on Sunday that nothing has been canceled and technical talks are on track for the coming days. Gharibabadi, however, cast doubt on the meeting in comments published by IRNA, stating, "Reports by some media about technical talks by the working groups being held in Doha are not confirmed." Technical talks involve lower-level diplomats working on the specifics of any deal that would bring top leaders from Iran and the U.S. back to the table.