“South Korea and the US are discussing ways to release the $7 billion Iranian funds held in the Asian country as Seoul and Washington seek to improve economic and diplomatic relations with Tehran,” the source was quoted as saying in a report published by Korea Economic Daily.
If talks turn out to be successful, the frozen money will be allowed to be transferred to Iranian bank branches in neighboring Middle Eastern countries, not directly to Iran, to monitor the flow and use of the funds, the source said.
The release, if implemented, will come under stringent conditions that Iran use the funds only for public purposes such as UN dues and purchasing COVID-19 vaccines, the report added.
Earlier, the new Iranian ambassador to Seoul Saeed Kouzehchi underlined that determining the situation of Iranian assets in South Korea can play a key role in enhancing mutual ties between the two nations.
9376**2050**4261
Your Comment