FM Calls for Iran's Rapid Access to Frozen Assets in South Korean Banks

Iranian Foreign Minister Hossein Amir Abdollahian underlined that South Korea must swiftly provide the Islamic Republic access to the funds that Seoul has been withholding from Tehran on the pretext of abiding by the US sanctions.

The Iranian foreign minister made the remarks in a telephone conversation with his South Korean counterpart Chung Eui-yong on Thursday.
Amir Abdollahian voiced Iran's strong criticism to the continued freezing of the Iranian funds at South Korea’s banks.

The top Iranian diplomat reiterated that the money should be released so the Islamic Republic in a bid that the country could use it towards buying medicine and other commodities.

"The Iranian nation is seriously displeased with the situation that has been brought about as a result of cessation of trade activities between the countries—on the back of the American economic measures—and prevention of application of the funds even towards purchase of humanitarian items," Amir Abdollahian said.

Chung, for his part, said that he was pursuing the issue of Iran’s access to the frozen funds.
He, meanwhile, expressed concern regarding the actions that the Islamic Republic has been taking concerning the Korean imports.

Iranian authorities have said on several occasions that they expect South Korea to do more on the release of nearly $8.5 billion blocked illegally at two South Korean banks under the pretext of the United States’ sanctions against the Islamic Republic.

It had been previously agreed for the funds to be used by Iran towards the purchase of humanitarian items, something that has again been prevented as a result of Korea’s commitment to honor the sanctions.
Tehran has been returning Seoul’s refusal towards cooperation by exercising restrictions on imports from South Korea.