Iran rejects US proposal linking unfreezing of assets to purchases of American agricultural products

The United States has temporarily suspended part of its sanctions against Iran for 60 days, allowing Tehran to resume oil exports and receive payments for them. According to Reuters, the agreement was reached during talks held in Switzerland, and the suspension will remain in effect until August 21, 2026.

U.S. President Donald Trump said that the unfrozen Iranian assets could be directed toward purchasing American agricultural products. He stated that the funds are intended both to support American farmers and to provide food supplies for Iran’s population of around 91 million people.

U.S. Vice President J.D. Vance said that a special mechanism for controlling the funds, involving the United States and Qatar, would allow their use for purchases of American corn, soybeans, and wheat. According to Washington’s plan, this would ensure that the unfrozen assets are strictly directed toward U.S. agricultural exports.

However, Tehran firmly rejected these conditions. Central Bank Governor Abdolnaser Hemmati said that no such obligations exist and that the unfrozen funds may be used more flexibly, including for the purchase of various goods not subject to sanctions.

The sides also agreed on maintaining safe navigation in the Strait of Hormuz and established a communication channel to prevent incidents. According to Reuters, the United States and Iran, with mediation from Qatar and Pakistan, agreed on a roadmap for further talks that could lead to a longer-term settlement within 60 days.

Tags: corn, soybean, wheat, agricultural products, USA, sanctions, Iran