Iran “Agreement to Release Frozen Assets with Korea…Welcome to Strengthening Cooperation” (Complementary)

Iran’s Ambassador Yoo Jung-hyun met with Abdolnaser Hemmati, the governor of Iran’s central bank on the 22nd (local time) at the Korean Embassy in Juteheran. (Capture of Iranian government website)

The Iranian government announced on the 22nd (local time) that it had agreed with the Korean government on how to use frozen funds in Korea.

According to Al Jazeera, the Iranian Central Bank (CBI) said in a statement that CBI President Abdolnaser Hemmati had met with Ambassador Yoo Jeong-hyun at the Korean embassy in Tehran and agreed to release some of the frozen funds in Korea.

In a statement, the CBI said, “A consensus has been reached on how to transfer the assets to the desired location and communicated the central bank’s decision on the size of the assets to be transferred and the destination bank.”

According to the Iranian government’s website, at the meeting organized at the request of the South Korean embassy, ​​Ambassador Yu said that he was ready to take all necessary steps to ensure that the Iranian government could use all frozen assets and that “there are no limits or restrictions.”

Hemmati told Ambassador Yu: “Iran welcomes the changing approaches and strengthening cooperation of other countries, but will continue the legal process to demand compensation from Korean banks that have refused to cooperate with Iran in the past few years. “Said the position.

Since 2010, Korea has been paying for trade between the two countries in Korean won, not foreign currency, through CBI accounts opened in domestic banks.

However, as the U.S. suspended the temporary sanctions exception on Korea’s Iranian crude oil import in May 2019, the KRW settlement account between Korea and Iran was frozen. Relations between the two countries became colder.

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