News ID: 317079
Published: 0828 GMT October 13, 2021

Releasing Iran’s frozen fund only way to repair S.Korea’s image

Releasing Iran’s frozen fund only way to repair S.Korea’s image

An Iranian deputy foreign minister said on Wednesday that the only way Seoul can repair its tainted image among Iranians is to quickly return billions of dollars in funds frozen in South Korea under the US pressure.

Ali Baqeri Kani said he pressed South Korea’s first Vice Minister of Foreign Affairs Choi Jong Kun in a phone call earlier on Wednesday for a repatriation of the funds held in two South Korean banks for more than three years.

“I reminded him (Choi) that only an effective and quick action to remove restrictions on Iranian funds in South Korea and compensating the costs incurred could effectively repair this country’s tarnished image among the Iranian people,” the Iranian diplomat wrote in a Persian post sent on Twitter.

South Korea owes Iran over $7 billion for imports of energy that took place before the United States imposed its unilateral sanctions on Tehran in mid-2018, Press TV reported.

Seoul says US sanctions on Iran effectively bars transactions involving the funds while authorities in the East Asian country insist they are waiting for a new agreement between Iran and world powers to revive a 2015 nuclear agreement that could allow the funds to released.

However, South Korea’s full compliance with US secondary sanctions, which can only apply to US citizens and those having businesses in the US, has caused public uproar in Iran with calls increasing for a boycott on electronic products and home appliances manufactured in South Korea.

The Iranian government announced an outright ban on imports of home appliances earlier this month after it emerged that import companies were preparing to place orders for new shipments from two major South Korean brands.


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