TEHRAN, Iran, Nov. 1
Trend:
Iran`s government makes all efforts to minimize the impact of its funds frozen in South Korea on bilateral relations, Iran Ministry of Foreign Affairs Spokesman Saeed Khatobzadeh said during a press conference today on Monday, Trend reports citing Mehr News Agency.
Khatibzadeh has demanded the release of Iranian funds frozen in South Korea.
"Our blocked money in South Korea must be released."
Referring to the South Korean efforts to release Iranian frozen assets, he says the efforts were not sufficient.
Some seven billion dollars of Iranian oil revenues have been frozen in two South Korean banks since September 2019, when Washington's sanctions waiver for South Korea's imports of Iranian oil expired.
The two sides now appear to be moving toward a solution for the thorny issue after a few rounds of failed negotiations in January, in which both countries proposed a number of solutions none of which broke the deadlock over the issue.
