Zarif announces mechanism of returning Iran's funds blocked in S.Korea
BAKU, Azerbaijan, March. 3
Iranian Minister of Foreign Affairs Mohammad Javad Zarif announced an agreement between Iran and South Korea on the mechanism of returning Iranian blocked money from Seoul, Trend reports via ICANA.
Zarif went on to say that he held a conversation with the Foreign Minister of South Korea at his request, last week.
“The Minister of the Republic of South Korea promised to do his utmost to achieve the necessary results," Zarif said.
"The returning mechanisms have been agreed upon, but apparently the Koreans have not yet received the necessary permits (from US), so they say they are pursuing the issue," he said.
Zarif stated that “In Iran's view, obtaining permission from the Americans is unnecessary, but the Korean side is trying to obtain permission from the United States to release Iranian blocked funds."
According to the reports, up to $9.2 billion of Iran's assets are frozen in South Korea.