US Treasury Secretary Scott Bessent announced on Wednesday that his department will supervise the release of Iran’s frozen assets from Doha, with a “very large portion” directed to purchases of American food and medicine. The statement aligns with President Donald Trump’s social media post that part of Iran’s money, which he described as “fully under our control,” will be freed to buy corn, wheat, soybeans and other products from US farmers and ranchers. The mechanism forms part of a temporary memorandum of understanding that halted hostilities and established a 60-day framework for broader negotiations.

From Washington, the administration presents the arrangement as a dual-purpose measure: humanitarian relief for the Iranian population and a commercial opportunity for American agricultural producers, who face declining real incomes and intense export competition from Brazil and Argentina. Vice President JD Vance and Trump have emphasised that no US taxpayer funds are being transferred. In Tehran, however, officials have offered a sharply different account. Central Bank governor Abdolnaser Hemmati stated that the signed notes contain “no obligation to purchase agricultural inputs from America,” adding that any purchases would be based on price and quality. Iranian authorities have repeatedly asserted that neither Washington nor its allies can determine how Iran’s own assets are spent.

The operational details remain opaque. Bessent did not specify the total sum to be released, the Qatari institution that will host the accounts, Iran’s role in directing procurement, or the enforcement instruments the Treasury would use to prevent diversion. According to European diplomatic observers, the central legal ambiguity is whether the US Treasury will retain genuine control over the funds once they leave blocked accounts, or whether Washington is relying on escrow structures and the leverage of secondary sanctions to shape expenditure. The International Atomic Energy Agency’s director general, Rafael Grossi, confirmed that inspectors will access Iranian nuclear facilities under the signed memorandum, but Iranian deputy foreign minister Kazem Gharibabadi conditioned such inspections on the conclusion of a final agreement and the complete lifting of sanctions, underscoring the contingent nature of the deal’s implementation.

The temporary accord has drawn criticism from some Republican lawmakers who argue that the White House has already granted significant concessions—sanctions relief and access to frozen assets—in return for only a time-limited negotiating period. Viewed from Tehran, the insistence on spending autonomy reflects a long-standing position that blocked reserves belong to Iran and should not be subject to externally imposed conditions. The first tranche of funds is expected to be released from Qatar, with US Treasury officials deploying to Doha to monitor allocations. The broader 60-day negotiation process will test whether the divergent interpretations of financial control and inspection access can be reconciled.