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Details of release of Iranian blocked assets in South Korea

Finance Materials 1 March 2021 15:27 (UTC +04:00)
Details of release of Iranian blocked assets in South Korea

BAKU, Azerbaijan, March 1

Trend:

The head of the Iran-South Korea Chamber of Commerce Hossein Tanhaei announced that up to one billion US dollars of Iran's assets blocked in S.Korea are to be transferred to the Switzerland Humanitarian Aid Channel known as SHA, to be spent on medicine and food, Trend reports via ILNA.

"In the case of pharmaceutical items, the Ministry of Health has coordinated the issue with the Central Bank,” Tanhaei said.

"The important issue in this case is that we either get money or items like machines that will help boost domestic production," he said. “We will start returning Iran's blocked assets through exchanging it with medicine and food items.”

Referring to the exchange items, Tanhaei said that it should not be in such a way that the other party determines which items are to be provided to Iran.

"The items we need are in petrochemical, automotive and home appliances sectors. They should be given priority," he said.

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