US to release $12bn of Iran's frozen assets, state media reports

US to release $12bn of Iran's frozen assets, state media reports Iranian state-affiliated news agency Mehr News Agency reported that a proposed memorandum of understanding between the United States and Iran includes provisions for the release of frozen Iranian assets. According to the report, the document calls for the unfreezing of $24 billion in Iranian funds during a 60-day negotiation period that would begin after the memorandum takes effect. The report said half of that amount, or $12 billion, would be made available to Iran before the negotiations begin.