U.S. Treasury will oversee frozen Iranian funds when they're released, Bessent says
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- The arrangement described by Bessent would also create a potential domestic economic argument for the deal: Some of the released funds could flow back to U.S.
- Administration officials have argued the interim deal is designed to stop hostilities and create a 60-day window for a broader agreement.
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The Treasury Department will oversee Iranian funds when they are released under President Donald Trump's interim Iran agreement, Treasury Secretary Scott Bessent said Wednesday on CNBC's "Squawk Box.""A very large percentage of it will go to buy U.S. foodstuffs and medicines," Bessent said.
Bessent said the funds would be overseen by Treasury in the Middle East, suggesting the administration is trying to place guardrails around one of the most politically sensitive pieces of the agreement: Iran's access to frozen assets.The comments come as the White House faces backlash from some congressional Republicans over whether Trump's deal gives Iran too much, including sanctions relief and access to frozen funds, in exchange for a temporary negotiating window.