BAKU, Azerbaijan, Jan. 15
Member of the presidium of the Iranian parliament Hojjatoleslam Seyyed Nasser Mousavi Largani suggested that Iran receives its funds frozen in S.Korea by barter for essential goods, Trend reports citing Mehr News Agency.
South Korea has over $9 billion of Iran's frozen funds held, due to US sanctions against Iran's nuclear program.
Around $2.7 billion deposited by the Seoul branch of Iran’s Bank Mellat has been held by the Bank of Korea, while about $7 billion worth of Iran's oil money remains frozen by the Industrial Bank of Korea and Woori Bank, according to Yonhap News Agency.
Tensions between Tehran and Seoul have escalated after Iran’s Islamic Revolutionary Guards Corps (IRGC) seized a South Korean-flagged oil tanker in the Persian Gulf on Monday for alleged violations of maritime environmental laws.
The vessel carrying 7,200 tons of ethanol was heading to South Korea from Saudi Arabia’s Al-Jubail port when it was intercepted by Iranian forces.