News ID: 272223
Published: 0550 GMT July 30, 2020

Iran planning to file a lawsuit against South Korean banks

Iran planning to file a lawsuit against South Korean banks

Iran’s Ministry of Foreign Affairs announced on July 29 that Tehran will file a complaint concerning its frozen assets against South Korean banks in the international courts of justice.

Reacting to an article appeared on one of the Iranian newspapers, the ministry referred to some key points in a statement to enlighten the public opinion, Mehr News Agency (MNA) reported.

“No telephone calls have been made by the spokesperson of the South Korean Ministry of Foreign Affairs with the Ambassador of the Islamic Republic of Iran in Seoul and the claim is basically false,” said the five-point statement.

It added that the Iranian envoy to South Korea had met with the general manager of the Middle East affairs at the South Korean Foreign Ministry and the previous remarks made by the head of the Central Bank of Iran was not mentioned in the meeting at all.

Following the meeting of the Iranian ambassador with the senior official at the South Korea’s Foreign Ministry, the Foreign Ministry of Iran issued a statement on July 21 rejecting “unfounded reports” by the official news agency of South Korea, Yonhap, in which the news agency had claimed the Iranian ambassador was “summoned” to the South Korean foreign ministry.

Unfortunately, the South Korea’s news agency in an “unprofessional move has released a piece of unfounded news. The Iranian ambassador “has not been summoned” by the Foreign Ministry of the host country “but has been invited,” the statement stressed.

It concluded by saying that over the past two years, accessing to the financial resources of the Central Bank of Iran in South Korea has been the main topic discussed by the officials of the two countries. In addition to receiving the country's special envoy, many meetings have been held with the Korean officials both in Tehran and Seoul. Obviously, the nature of the duties of the Ministry of Foreign Affairs requires that it should not disclose all its measures. According to its inherent duties, the Ministry of Foreign Affairs mainly facilitates foreign relations including economic relations with other countries.

Meanwhile, Iran’s Foreign Ministry spokesperson Seyyed Abbas Mousavi had earlier said in an interview that Tehran could sue Seoul as they refrain from paying off their oil debts to Tehran.

Earlier last week, Mousavi said Tehran has already given an official warning to Seoul over the frozen assets.

Iranian authorities have been pressing South Korea to release between $6.5 billion and $9 billion in frozen funds so that Tehran could use them for purchase of basic goods.

South Korea is citing the US sanctions as an excuse for not releasing Iran's money.

Moreover, Mousavi said in a message on his Twitter account on July 29, “We've much heard promises from South Korea. Now, we only wait for tangible, vital action. In Iran, no one expects 500k- or 2m-dollar shipment. We hope the South Korean officials to remember abt amount of Iranian nation's financial resources in Seoul & no legal obstacles against trade w/Iran.” 


Resource: MNA
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