The Biden administration has made a groundbreaking move by reaching a historic deal with the Islamic Republic of Iran. This deal involves the release of five imprisoned U.S. citizens, who have been wrongfully imprisoned on spying charges, in exchange for the freeing of convicted Iranian criminals and the unfreezing of billions of dollars of Iran’s oil revenue that has been locked up due to sanctions.

According to Jared Genser, one of the lawyers representing the imprisoned Americans, the five Iranian American dual citizens have been released from their unjust imprisonment. However, they are currently placed under house arrest at a hotel, which is being guarded by Iranian officials. Genser emphasized that there are still uncertainties about the future and the ultimate release of the Americans. In a reciprocal gesture, the Biden administration has agreed to release several Iranian nationals who have been convicted of evading U.S. sanctions.

Another crucial aspect of the deal is the unfreezing of approximately $6 billion of Iran’s assets in South Korea. These funds will be transferred to an account in the central bank of Qatar, under the control of Qatar. This arrangement ensures that Iran can access the funds to pay for humanitarian purchases, while also providing a level of oversight to prevent misuse.

Qatar played a significant role in brokering this deal between the United States and Iran. Its capital city, Doha, will be the destination for the released American citizens. The Americans will only be allowed to leave Iran once the funds have been successfully transferred to the Qatari account. Qatar’s involvement in overseeing the transfer of funds adds an additional layer of security and accountability to the process, ensuring that the funds are used for their intended humanitarian purposes.

While the release of the imprisoned Americans and the unfreezing of Iran’s assets are positive steps towards improving diplomatic relations between the two countries, it is crucial to recognize that challenges lie ahead. As Jared Genser cautioned, this is just the beginning of the end, and there are no guarantees about what will happen from here.