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S.Korea keeps silent as Iran pushes for trade, return of its frozen assets

Business Materials 30 July 2020 08:06 (UTC +04:00)
S.Korea keeps silent as Iran pushes for trade, return of its frozen assets

TEHRAN, Iran, July 30

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Iran is waiting for distinguished and tangible actions from South Korea, as we heard enough promises already, said Iranian Foreign Ministry spokesman Abbas Mousavi, Trend reports citing IRNA.

"Nobody is waiting for $500,000 or $2 million cargoes but we hope that the South Korean authorities would remember the volume of Iran's financial sources in their country and that no sanctions prohibit South Korea's trading with Iran," he said.

Iran's foreign ministry has notified the South Korean government, through negotiations, that no sanctions would ban trade and that South Korea's reaction in holding Iran's assets is contrary to friendly relations, and the constant promises did not yield any results to solve the problems.

Iran recently received $500,000 worth of medicine from South Korea, after Washington approved a special license to authorize some humanitarian transactions with Iran in late May.

South Korea has been seeking to expand humanitarian exports to Iran to about $2 million, including coronavirus test kits and other supplies.

An estimated $7 billion in Iranian funds are presently being held in two South Korean banks, although the assets have been frozen since September 2019, when a waiver granted by the United States for imports of Iranian oil expired.

Abbas Mousavi recently warned of legal action in the International Court of Justice if Korea continued to refuse to pay off the money.

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