Secretary of State Tony Blinken last week signed a waiver to allow banks to transfer $6 billion in frozen Iranian funds without the fear of being harmed by U.S. sanctions, the State Department said on Monday.
Why it matters: The move is a “critical step” for a prisoner swap deal between the U.S. and Iran to move forward, the State Department said.
Driving the news: Blinken signed the sanctions waiver on Sept. 8, and notified Congress of the move on Monday, as first reported by AP.
Yes, but: Some lawmakers expressed concern over the move.
What to watch: U.S. officials said the first batch of the funds has already been transferred, but they cautioned the process will take some time to complete.