Iran calls on South Korea to "act wisely" and unfreeze its finances

Iran has asked South Korea to "act wisely" and unfreeze Iranian cash worth billions of dollars that have been held in South Korean banks as a result of US sanctions.

Iran (IMNA) - Nasser Kanani, a spokesperson for the foreign ministry, said at a news conference on Monday that Tehran and Seoul are in constant communication in order to restore the rights of the Iranian people, but expressed dissatisfaction with the slow pace of the negotiations.

He stated, "We expect the Korean government to behave carefully and intelligently in promptly releasing Iran's assets.

In order to strengthen the bonds between the two countries and rekindle their economic and commercial connections, he also urged Seoul to play its part.

In other parts of his remarks, Kan'ani stated that Iran will use both the legal system and diplomatic channels to recover the funds, noting that the President Ebrahim Raeisi administration recently sent a bill requesting that the dispute be submitted to arbitration in order to begin the legal process of the case.

The measure to send the case to arbitration was sent to the Iranian parliament earlier this month by President Raeisi.

The measure was approved by the cabinet of ministers on July 5 and sent to the parliament "in order for the legal procedure to be taken." It was delivered to Parliament Speaker Mohammad Baqer Qalibaf.
Mohammad Dehghan, the deputy president for legal affairs, declared on Saturday that Iran will use all legal means at its disposal to compel South Korea to release its cash.

After former US President Donald Trump withdrew from the Iran nuclear deal in 2018 and reinstituted economic sanctions against Tehran, South Korean banks banned Iran's assets.

News ID 676950


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