2021-May-8 08:45
2021-February-22  16:14

Tehran, Seoul Agree on Transfer of Iran’s Assets from South Korea

TEHRAN (FNA)- Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmat and South Korean Ambassador to Tehran Yu Jang Hian agreed on how to transfer and spend Iran’s frozen assets in the banks of the East Asian country.

In a meeting held at the request of South Korean embassy in Tehran, Hemmati welcomed the approach by South Korea, reiterating, “Iran, however, would stand up for its rights regarding damages caused by non-cooperation by Korean banks in recent years.”

“The Islamic Republic of Iran has been denied to use its assets with [South] Korean banks, due to those banks’ full cooperation with the US maximum pressure against Iran,” he continued.

Yu Jang Hian, for his part, said that his government is ready to take any measure required to transfer all Iran’s assets in South Korea and there was no cap or limitations.

During the meeting, an agreement was reached on transfer of Iran’s assets to specified destinations and CBI’s decision on amount of the transfer and destination banks.

In relevant remarks in mid-February, Iran’s Vice-President for Legal Affairs Laya Joneidi said that if diplomatic ways fail to relieve frozen assets from South Korea, the country will initiate proceedings with international courts to get access to its money.

Joneidi said that if diplomacy does not work with regards to unfreezing the crude money in the banks of Seoul, the Islamic Republic will take recourse to international courts to unblock its assets.  

She noted that preparatory works for taking legal actions have been carried out.

“The US is also trying to block Iran’s assets in Europe in a bid to enforce the verdicts of its domestic courts against Iran,” the official went on to say.