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S. Korea: Release of Iranian Assets Requires Consultation with US

Write: 2021-02-23 10:32:51

Photo : YONHAP News

The Seoul government said on Tuesday that the release of Iranian assets seized in South Korea requires consultation with related nations such as the United States. 

The Foreign Ministry issued the position after Iran announced that it agreed with the South Korean government on the transfer and use of its assets frozen in South Korean banks under U.S. sanctions. 

The ministry said that the Seoul government has discussed uses for the frozen assets with Iran. It added that Iran expressed its consent to Seoul’s proposals during a Monday meeting between Iran's top banker Abdolnaser Hemmati and South Korean Ambassador to Tehran Ryu Jeong-hyun.

The ministry then stressed that the actual release of the assets will be realized through consultation with related nations such as the U.S. 
The statement came after Iran's state-run IRNA news agency reported that Iran and South Korea reached a deal on the transfer and use of the Iranian assets on Monday at the South Korean Embassy in Tehran. 

Tehran also said on its official website that the frozen assets will be transferred to destinations desired by Iran and that the Central Bank of Iran(CBI) will notify Seoul of the amount it wants to be transferred and the destination banks.

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