U.S. clears way for release of $6 billion in frozen Iranian funds as part of prisoner swap deal

Washington — The Biden administration has cleared the way for the eventual release of five American citizens detained in Iran by issuing a blanket waiver for international banks to transfer $6 billion in frozen Iranian money from South Korea to Qatar without fear of U.S. sanctions. In addition, as part of the deal, the administration has agreed to release five Iranian citizens held in the United States.

Secretary of State Antony Blinken signed off on the sanctions waivers last week, a U.S. official told CBS News, a month after U.S. and Iranian officials said an agreement in principle was in place.

Congress was not informed of the waiver decision until Monday, according to a congressional notification obtained by The Associated Press. The U.S. official confirmed that the administration…