Iran's top diplomat has reportedly said that Iran has reached a preliminary deal with a foreign bank over its frozen funds.

According to AFP, Iran's foreign minister Hossein Amir-Abdollahian said on Wednesday in a news conference that an accord was concluded with a foreign bank to release a part of Iran's financial claims. The funds were frozen under sanctions imposed by the U.S. in 2018.

The minister said that the preliminary agreement was about when and how to release the funds, without disclosing the foreign bank.

Amir-Abdollahian would only reveal that a delegation from the concerned country had visited Tehran on Tuesday to follow up on the implementation of the deal with the foreign bank.

The delegation reportedly met officials from the Iranian central bank and the foreign ministry.

AFP speculated that the deal might have been reached with South Korea, noting that Iran had been one of South Korea's main suppliers of crude oil.