BAKU, Azerbaijan, Feb. 17
By Elnur Baghishov – Trend:
Officials of the Central Bank of Iran (CBI) have conducted discussions with South Korean officials in Seoul on the release of Iran's $7 billion worth of frozen funds in South Korea, head of the public relations department of the Central Bank of Iran (CBI), Mostafa Ghamari Vafa wrote on his Twitter page, Trend reports.
According to Ghamari Vafa, the mentioned Iran's funds have been frozen in two South Korean banks for four years due to sanctions.
The official said that Iran wants South Korea to lift restrictions on these funds.
In May 2018, the US announced its withdrawal from the nuclear deal between Iran and the P5+1 group (US, Russia, China, UK, France, and Germany) and imposed sanctions on Iran in November of the same year. Over the past period, the sanctions affected Iranian oil exports, more than 700 banks, companies, and individuals. The sanctions have resulted in the freezing of Iranian assets abroad.
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