Qatar was quietly given approval by the U.S. to provide Iran with access to funds in exchange for helping keep the Strait of Hormuz open and preventing attacks on Qatari vessels. The understanding was reached about a month ago and was part of a broader effort to stabilize energy markets and ease pressure on oil prices, according to a report in Israel Hayom.

Iran was reportedly granted access to funds held in Qatar, including tanker-related payments and a credit line worth up to $1 billion for the purchase of goods.