Iran Denied Access to $6 Billion Humanitarian Aid Account

Iran has been denied access to a $6 billion account for humanitarian aid following an agreement between the United States and Qatar, according to reports. The decision comes in the wake of Hamas’s recent attack on Israel and was communicated to House Democrats by Deputy Treasury Secretary Wally Adeyemo on Thursday. Several media outlets, including The Washington Post, have reported on the agreement.

The funds were originally intended for Iran as part of a prisoner swap between the Biden administration and Tehran in September. Last month, the money was transferred to a Qatari bank from an institution in South Korea. However, due to mounting pressure from both Democrats and Republicans in Congress, President Joe Biden has taken steps to prevent Iran from utilizing the funds, especially in light of their connections to Hamas.

Recent reports suggest that Iran was aware of Hamas’s plans for an attack, although they did not have knowledge of the timing or scale of the operation. While the Wall Street Journal’s report, based on information from U.S. intelligence agencies, indicates a more cautious assessment, the same newspaper previously claimed that Iran had played a role in plotting the attack over an extended period.

Impact on Oil Prices

Additionally, oil prices experienced a temporary dip as concerns over potential escalation between Israel and Gaza eased. However, prices have since rebounded slightly as tensions persist in the region.

Myra P. Saefong contributed to this report.

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