The Biden administration issued a waiver to allow banks to transfer $6 billion in frozen Iranian oil funds without facing U.S. sanctions, a key step in a prisoner swap deal.

<div class="block">The Biden administration issued a waiver to allow banks to transfer $6 billion in frozen Iranian oil funds without facing U.S. sanctions, a key step in a prisoner swap deal.</div>

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U.S. Advances in Prisoner Swap Deal With Iran

The Biden administration issued a waiver to allow banks to transfer $6 billion in frozen Iranian oil funds without facing us sanctions. This move is a key step in a prisoner swap deal with Iran where the Iranian government would release five US citizens who are being detained in Iran as part of the prisoner exchange deal. The US would also release five Iranian citizens who are being detained here in the United States Secretary of State Antony Blinken signed off on the sanctions waivers. Late last week, Congress was informed of the waiver yesterday.