Iran warns of ‘reciprocal action’ if US doesn’t honour MOU commitments

Iran's Foreign Ministry stated on May 13, 2024, that the United States must fulfill its commitments under a Memorandum of Understanding (MOU) concerning the release of Iranian assets, or face "reciprocal action." The ministry's spokesperson, Nasser Kanaani, emphasized that Iran expects the US to adhere to the agreed-upon terms regarding the unblocking of approximately $27 billion in Iranian funds. These funds were reportedly frozen following the US withdrawal from the Joint Comprehensive Plan of Action (JCPOA) in 2018. Kanaani indicated that if the US fails to meet its obligations, Iran reserves the right to take proportional measures. The statement comes amid ongoing negotiations and diplomatic exchanges between the two nations regarding various bilateral issues, including sanctions relief and frozen assets. The specific details of the MOU and the exact nature of the "reciprocal action" were not fully disclosed in the public statement, but the warning signals a potential escalation in diplomatic pressure if the US does not comply with the agreement.