--- title: "Tehran: No Frozen Assets Returned After Expiry of the Islamabad Memorandum with the US" description: "The head of Iran's Central Bank stated that not a single frozen asset abroad has been unblocked after the expiry of the Islamabad Memorandum with the US. Estimates of the value of the blocked funds exceed 100 billion dollars." date: 2026-08-19T22:57:17.000Z lang: en url: https://xab.info/en/posts/tehran-no-frozen-assets-returned-after-expiry-of-islamabad-memorandum-with-us tags: [iran, sanctions, frozen-assets, us-iran, islamabad-memorandum, qatar, central-bank] publisher: "XAB.info" --- # Tehran: No Frozen Assets Returned After Expiry of the Islamabad Memorandum with the US ![Tehran skyline at sunset: dense urban blocks and high-rises against a hazy horizon, the Iranian capital in the context of frozen assets still unreturned after the Islamabad memorandum with the US expired](https://xab.info/media/2026/08/20/tehran-zamorozhennye-aktiva-islamabadskiy-memoranum-ssha/tehran-zamorozhennye-aktiva-islamabadskiy-memoranum-ssha-1.webp) ## 🎯 Key Points - Iran's Central Bank head Hemmati stated that not a single frozen asset has been unblocked after the expiry of the Islamabad Memorandum (August 17, 2026). - The total value of Iran's frozen assets abroad is estimated at over 100 billion dollars; about 12 billion is held in Qatar, of which initial access may amount to 6 billion. - Experts point to uncertainty: the actually accessible share may be only about half of the nominal value, and the US may impose conditions on the use of the funds. The head of Iran's Central Bank, Abdolnaser Hemmati, stated in an interview with the state broadcaster IRIB that not a single Iranian monetary asset held in foreign banks has been returned or unblocked, despite a previously reached agreement with the US that temporarily lifted some of the banking and economic restrictions on Tehran. In his words, "to date, not one of the frozen assets has been unblocked in accordance with the terms of the agreement." The statement came against the backdrop of the expiry of the Islamabad Memorandum, signed remotely by US President Donald Trump and Iranian President Masoud Pezeshkian on June 17, 2026, to end months of hostilities; its term expired on August 17, 2026. ### Budget Hit: Fall in Oil and Tax Revenues Hemmati linked the failure to unblock the funds to a general deterioration in the macroeconomic situation. He noted that the simultaneous decline in oil export revenues, tax receipts, and social security contributions "has affected all sectors and pillars of the country's economy." At the same time, the Central Bank chief emphasized that the population's expectations and demands for improved conditions are "entirely legitimate and deserving of respect," but fiscal constraints make their realization difficult in the short term. ### How Much Is Iran's Frozen Capital Worth The exact value of Iran's assets blocked abroad has not been officially determined; however, according to Iranian reports and expert estimates, the total exceeds 100 billion dollars. Frederic Schneider, a senior fellow at the Middle East Council on Global Affairs, speaking on the Qatari channel Al Jazeera on April 16, pointed out that these assets are equivalent to roughly three times Iran's annual revenue from hydrocarbon exports — mainly oil and gas. "This is a very large sum of money, especially for a society that has suffered for decades under sanctions imposed by the US," he said. ### Contradictory Data Open sources show significant discrepancies in estimates of the volume of funds actually available. On the one hand, the total value of frozen assets is estimated at over 100 billion dollars, and in Qatar alone, according to a Wall Street Journal report dated June 20, 2026, about 12 billion dollars is held, of which Tehran may gain access to 6 billion in the initial phase. On the other hand, Jacob Lew, who served as Treasury Minister under Barack Obama, told the US Congress back in 2016 that even with a full lifting of sanctions, Iran would gain access to only about half of the frozen assets, since the rest had been committed to pre-agreed investments or loan repayments. Thus, the gap between the nominal "100+ billion" value and the actually accessible share remains undefined and is a matter of dispute. ### The Qatar Mechanism and Tehran's Skepticism According to the Wall Street Journal, the US and Qatar are jointly developing a mechanism that would allow Iran to use part of its frozen assets to purchase humanitarian aid; the initial volume is estimated at 6 billion dollars from the Qatari pool. Schneider, however, pointed out that it remains unclear whether Washington, even if it agrees to release the funds, will set conditions on their use. He added that, given the history of "extremely complex and inconsistent sanctions" and a shortage of US experts in detailed negotiation work, Iran "remains skeptical." Against this backdrop, the expiry of the Islamabad Memorandum without any actual unblocking of assets heightens uncertainty over the future of nuclear and economic negotiations. ## 🔍 Fact-Check Verification - [Tehran announces the fate of frozen Iranian assets in connection with the expiry of the agreement with the US.](https://www.vietnam.vn/ru/tehran-thong-bao-ve-so-phan-tai-san-iran-bi-phong-toa-khi-thoa-thuan-voi-my-het-hieu-luc) - Подтверждает заявление Хемматти о неразблокировании активов и истечение срока Исламабадского меморандума 17 августа 2026. - [NYP: Iran has not yet gained access to $6 billion of its assets in Qatar](https://news.mail.ru/society/71468665/) - Подтверждает катарский пул и стартовый объём 6 млрд, но подчёркивает, что доступ пока не получен — согласуется с позицией ЦБ Ирана. ## ❓ FAQ ### Q: Has Iran gained access to its frozen assets after the agreement with the US? **A:** No. The head of Iran's Central Bank, Abdolnaser Hemmati, stated that not one of the frozen assets has been unblocked in accordance with the terms of the agreement, whose term (the Islamabad Memorandum) expired on August 17, 2026. ### Q: How much, by estimates, is the value of Iran's frozen assets? **A:** The exact figure has not been officially determined, but Iranian reports and expert estimates point to more than 100 billion dollars. In Qatar, according to the Wall Street Journal, about 12 billion dollars is held, of which initial access may amount to 6 billion. ### Q: Can Iran obtain the full volume of assets even if sanctions are lifted? **A:** Skeptically. According to Jacob Lew's estimate, even in a favorable scenario Iran would gain only about half of the frozen assets, since part of the funds is committed to investments or loan repayments. Experts also point to the possible imposition by the US of conditions on the use of the funds.