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Frozen Funds Dispute
Iran’s central bank governor Abdolnaser Hemmati rejected a claim that Tehran must spend newly released funds on US goods, saying in a video message that “There is no such requirement in the memoranda that were signed during the negotiations.”
“Iran says it's not obligated to buy US agricultural products under signed agreements Central Bank chief says unfrozen Iranian funds not limited to purchases from United States Tarek Chouiref 23 June 2026•Update: 23 June 2026 ISTANBUL Iran is not obligated to purchase agricultural products from the United States under existing agreements, the country’s Central Bank governor said Monday”
Hemmati said the initial $12 billion in released funds is designated for imports of essential goods and medicine, but argued that it would free up Iran’s own resources for other uses.
He also said Iran routinely spends between $10 billion and $15 billion annually on essential imports and sees no issue with purchasing US products such as corn, wheat and soybeans if they meet pricing and quality requirements.
The dispute followed US President Donald Trump’s assertion that funds released under a recent agreement would be used exclusively to purchase food and medical supplies from the United States, while Hemmati said, “There is no obligation to buy from the United States.”
Inspectors and Nuclear Claims
After the first session of peace talks in Switzerland, Vice President JD Vance asserted that Tehran had agreed to invite United Nations inspectors back to Iran’s nuclear sites, but Iran’s government left any agreement unclear.
Esmail Baghaei, a spokesman for Iran’s foreign ministry, told Iranian state media that Iran had made “no new commitments” regarding nuclear inspections.
The New York Times reported that inspections had been limited since President Trump tore up an Obama-era deal in 2018, and that Iran began limiting inspectionsof its nuclear facilities after Trump withdrew from the 2015 deal.
The I.A.E.A. did not immediately respond to the dueling claims, while the paper said Iran’s president, Pezeshkian, told Sunday that Iran would “never back down” from its right to enrich uranium.
In parallel, CBS News said Vance told reporters that Iran would allow nuclear inspectors to return after what he called a “very, very good” in Switzerland, even as Iran’s foreign ministry said real negotiations on the “nuclear issue” haven’t started yet.
Oil Sanctions and Next Steps
The Trump administration temporarily lifted oil sanctions against Iran on Monday for 60 days, a reversal that the New York Times said could provide Iran with an economic boon and allow Iran to increase oil exports and charge market prices.
“All you need to know - A slap at Trump… 'the Senate' adopts a resolution to withdraw American forces from the war with Iran - A UN plan to evacuate 11,000 sailors stranded in the Strait of Hormuz - Ghalibaf: The Strait of Hormuz will never return to pre-war conditions - The agreement on the release of frozen assets, and Trump stresses Iran's commitment - Lifting American sanctions on Iranian oil and prices fall further A slap at Trump… 'the Senate' adopts a resolution to withdraw American troops from the war with Iran The U”
The same report said the suspension would also give Iran greater access to American currency by permitting it to transact in U.S. dollars and sell to American importers, while it noted the truce signed last week gave 60 days to reach a deal that could be extended.
TRT World reported Hemmati’s understanding of sanctions relief provisions, saying Iran expects to export oil and petrochemical products during a 60-day negotiation period without sanctions-related restrictions on shipping, ports or financial transactions.
In the background of the asset dispute, the New York Times described Vance’s proposal for potentially unfreezing Iranian assets at a later date and said Iran’s central bank governor told Tasnim that “necessary memoranda were signed” to initiate the release of assets.
As talks moved into working-level stages, CBS News said mediators agreed to establish a line of communication to avoid “incidents and miscommunication” in the Strait of Hormuz and that Iran, the U.S. and Lebanon agreed to create a “deconfliction cell” to ensure the ceasefire is respected.
