Iran Urges S. Korea to Immediately Release Frozen Assets
Iran's Deputy Foreign Minister and Chief Negotiator Ali Baqeri Kani underlined the need for Seoul to take immediate action to provide Tehran with access to its blocked funds.
Baqeri wrote on Twitter on Wednesday that he had told South Korea’s First Vice Minister of Foreign Affairs Cho Hyun-dong in a phone call that “the Iranian gov’t and people expect the new admininstration to immediately unfreeze our assets to provide a basis for improving bilateral ties”.
The senior diplomat noted that the South Korean side had stated that Seoul is exploring a new way to resolve the problem.
Tehran has repeatedly demanded the release of its frozen assets in several countries, including in South Korea, but Seoul has looked at Washington for a permit to repay its debt.
Seoul and Tehran are holding working-level consultations seeking ways to resolve the issue of Iranian assets frozen in South Korea due to US sanctions.
The frozen asset issue started in 2018 when former US President Donald Trump withdrew from a 2015 nuclear deal and reinstated economic sanctions against Iran.
Iranian officials stated the South Korean government is obliged to unfreeze the country’s frozen funds, stressing that unilateral US sanctions cannot justify Seoul’s inaction in repaying debts to Tehran.
The two sides had previously agreed to use the funds for purchase of humanitarian items by Iran, something that has again been prevented as a result of Korea’s commitment to honor the sanctions.
Tehran has imposed restrictions on imports from South Korea in retaliation for Seoul’s illegal compliance with the US sanctions.
