2021-April-10 16:47
2021-January-12  13:44

CBI Chief Urges Seoul’s Serious Action on Iran’s Frozen Funds

TEHRAN (FNA)- Central Bank of Iran (CBI) Governor Abdolnasser Hemmati called on South Korea to make a serious move and opt for independent decision-making on Iran’s frozen assets, warning that if the country does not release Iran’s crude revenues, it should expect consequences.

“Seoul must immediately release some $7 billion worth of funds it owes to Iran over crude imports in the past,” Hemmati said after meeting South Korea’s Deputy Foreign Minister Choi Jong-kun in Tehran on Monday, adding, “I reminded the Koreans and emphasized that Iran’s blocked funds belong to the Iranian nation and no one is allowed to play tricks on them.”

He said Seoul has been acting reluctantly by repeatedly promising that the money would be released.

Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati

“For almost one and a half year, the Koreans have sent numerous correspondences and announced that they would solve the problem today, tomorrow or a month later,” the CBI governor said, adding that Choi had shown serious determination to tackle the case for good.

In relevant remarks, Iranian Foreign Minister Mohammad Javad Zarif described freezing of Iran's assets by South Korean banks as a stumbling block to the further expansion of bilateral ties, and stressed the need for Seoul to unblock his nation's crude revenues.

“The freezing of Iran’s money by the South Korean banks has created the biggest obstacle on development of Iran-South Korea relations,” Zarif said on Monday in his meeting with the visiting South Korean Deputy Foreign Minister, Choi Jong-kun.

He added that Seoul should immediately release Iran’s financial resources.

Zarif stated that the illegal action of South Korean banks has caused the Iranian parliamentarians to stress that the problem should be resolved as soon as possible.

Jong-kun, for his part, stressed South Korea's will to resolve the problem, noting that Seoul will make every effort to provide Iran’s access to the blocked revenues.