BAKU, Azerbaijan, Jan. 11
By Elnur Baghishov – Trend:
Iran wants the release of $7 billion worth of Iranian assets frozen in South Korea, Director General of the Central Bank of Iran (CBI) Abdolnasser Hemmati said after a meeting with the South Korean delegation, Trend reports citing the CBI.
According to the Hemmati, these assets have been frozen in South Korean banks for more than two years.
Hemmati added that the freezing of Iranian money in South Korea is an important issue for Iran.
“Iran had frozen assets in other countries as well. Despite US sanctions against Iran, Iran had used these funds. However, it has not been able to use its reserves in South Korea, which is one of Iran's main trading partners,“ the director-general said.
The US imposed new sanctions on Iran in November 2018. Over the past period, the sanctions affected Iranian oil exports, more than 700 banks, companies, and individuals. The sanctions have resulted in the freezing of Iran's assets in several countries.