The head of Iran’s central bank says that there is no problem with regards to getting payment from South Korea for Iran’s oil exports.

Iranian Students' News Agency quoted Iran's Central Bank Governor Mahmoud Bahmani as saying on Monday that his nation faced no problems regarding payments for oil sold to South Korea and China.

Bahmani’s remarks dismissed an earlier report by Reuters that financial sanctions placed on Iran by the international community are preventing South Korea from paying around five-and-a-half trillion won, or five billion U.S. dollars, to the Middle Eastern nation for crude oil.

South Korea is one of Iran’s largest crude oil importers. South Korea bought an average of 230-thousand barrels a day from Iran in the first half of this year.