10 things you need to know today: September 12, 2023

The US agrees to release frozen Iranian funds in prisoner swap, Kim Jong Un arrives in Russia to meet with Putin, and more

Kim Jong Un arrives in Russia
Kim Jong Un arrives in Russia
(Image credit: Kirill Kudryavtsev / AFP via Getty Images)

1. US to release $6 billion to Iran under prisoner swap

The Biden administration has agreed to allow international banks to release $6 billion in Iranian assets to clear the way for the release of five American citizens detained by Tehran, The Associated Press reported Monday. The administration has also agreed under the tentative deal to free five Iranian citizens held in the U.S. European, Middle Eastern and Asian banks would have faced U.S. sanctions if they transferred the Iranian funds without the waiver spelled out in the agreement. Secretary of State Antony Blinken reportedly signed off on the deal last week, but Congress was only notified Monday. Republicans criticized the deal. Sen. Tom Cotton (R-Ark.) called it "shameful."

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.