BAKU, Azerbaijan, Apr. 21
By Elnur Baghishov – Trend:
Iran received $30 million from its frozen funds in South Korea, to purchase COVID-19 vaccine, head of the Iran-South Korea Chamber of Commerce Hossein Tanhaie told IRNA, Trend reports.
According to him, hopefully, the agreements reached between the two countries will be implemented. However, very little money has been paid so far.
Tanhaie added that under the terms of the agreement, South Korea was to pay $1 billion from its debt to Iran in cash. However, this has not happened yet.
The official noted that the discussions on a Joint Comprehensive Plan of Action (JCPOA) are important in releasing Iran's frozen money. If this plan is implemented, South Korea's debt to Iran will be easier and faster to pay.
Reportedly, Iran's funds worth $7 billion from oil sales to South Korea has been frozen in two South Korean banks since 2018. So far, there have been many discussions between officials of the two countries regarding the release of this money to Iran.
