Dollar banknotes [EPA=Yonhap News photo]

Iran has demanded the release of $24 billion (approximately 36 trillion won) in frozen assets, Tasnim News reported.

Citing sources close to the negotiating team with the U.S. on the 26th (local time), the outlet stated that Iran insists that upon the signing of a memorandum of understanding (MOU) for a ceasefire currently being negotiated with the U.S., $12 billion (approximately 18 trillion won) should be released first, allowing Iran access.

Furthermore, it is reported that Iran demanded the remaining $12 billion be transferred to Iran during the 60 days allocated for negotiations on the nuclear issue and ceasefire details following the signing of the MOU.

Iran has been strongly pushing for the advance deposit of a certain amount of frozen funds as a "gesture of goodwill" to guarantee the implementation of the MOU and the subsequent main negotiations.

The source explained that Mohammad Bagher Ghalibaf, the Speaker of Parliament and head of Iran's negotiating team with the U.S., visited Qatar the previous day to discuss the fulfillment of Iran's demands, the release of the first $12 billion, and the procedures to remove obstacles.

Iran's frozen assets, including $6 billion remitted from South Korea three years ago, are deposited in Qatar.

The source stated, "Considering the past process of releasing Iran's frozen assets between South Korea and Qatar, it was emphasized during this visit that the implementation steps must be tracked very carefully to prevent the recurrence of past experiences," adding, "From this perspective, the visit to Qatar was successful."

After the 2015 JCPOA was finalized, in January 2016, the U.S. delivered $1.7 billion (approximately 2.6 trillion won) in foreign currency to Iran in cash via airplane. Both countries explained that this money was for the purchase of U.S. military equipment that could not be delivered to Iran due to the 1979 Islamic Revolution, along with accrued interest.

However, the general interpretation was that it was to demonstrate the U.S.'s commitment to implementing the nuclear deal. At the time, the Republican Party, then the opposition, launched a massive offensive, calling it "ransom" for the U.S. prisoners released from Iran simultaneously with the signing of the nuclear deal.