Iran has told Washington that any serious nuclear talks must start with the release of its frozen assets. Tehran claims roughly half of $24 billion held abroad, about $12 billion, is locked in foreign banks. The demand has become the centerpiece of the war‑ending negotiations, forcing the Trump administration to weigh economic leverage against diplomatic progress, and could reshape regional finance.

President Trump warned his cabinet that the United States will retain control of the funds until Tehran makes a verifiable concession on its nuclear program. A senior official echoed the “no dust, no dollars” stance, insisting Iran first abandon its highly enriched uranium stockpile. Qatar, acting as mediator, said preliminary talks yielded modest movement on the $12 billion request, but no final terms.

Analysts note that unlocking the cash would constitute a “light lift” for Washington, yet it would also signal a shift from the maximum‑pressure campaign that has choked Iran’s economy. If the funds are transferred only for humanitarian purchases, as in 2023, the move may satisfy both sides. The next round of talks will test whether money or nuclear commitments drive a settlement.