S. Korea Trying to Unfreeze Iranian Blocked Assets: Official

Chairman of Iran-South Korea Joint Chamber of Commerce said that South Korea is striving to release Iranian assets blocked in South Korea due to US sanctions imposed against Iran.

Hossein Tanhaee broke the news on Sun. in an interview with FNA and restated that South Korea is trying to free Iranian assets blocked in South Korean banks because of US sanctions imposed against the country.

Elsewhere in his remarks, chairman of Iran-South Korea Joint Chamber of Commerce pointed to Iran’s US$7 billion worth of assets blocked in South Korea and stated that South Korean officials are in direct talks with US officials for releasing Iranian blocked assets by lifting some sanctions imposed against Iran exceptionally.

Firstly, Islamic Republic of Iran wants its assets to return to the country in cash but if this issue was not realized, Iran would import raw materials, equipment, and machinery from South Korea, Tanhaee added. - Mehr