Iran Central Bank: "No Progress in Releasing Frozen Assets in Korea"

Report by Iranian Semi-Governmental Media
US Consent Report Not Confirmed

[Image source=Yonhap News]

[Asia Economy Reporter Ki Ha-young] It has been reported that the Central Bank of Iran stated there has been no progress regarding the unfreezing of Iranian assets in South Korea.

On the 9th (local time), according to the semi-official Iranian news agency Fars News Agency, a Central Bank of Iran official told the media, "There has been no change yet in the situation of Iranian assets frozen in South Korea." Regarding reports from some Iranian media that the U.S. has agreed to unfreeze Iranian assets frozen in South Korea and other countries, the official drew a line, saying the information is unconfirmed.

Earlier, some Iranian media outlets reported on the 7th, citing Hamid Hosseini, Secretary-General of the Iran-Iraq Chamber of Commerce, that the freeze on $3 billion (approximately 3.4 trillion KRW) of Iranian assets in South Korea, Iraq, and Oman would be lifted.

Saeed Khatibzadeh, spokesperson for the Iranian Ministry of Foreign Affairs, responded to questions about frozen assets in South Korea at a press conference the previous day, saying, "We have not yet seen any substantial action," and added, "We are waiting for concrete measures from the South Korean government."

The Iranian funds frozen in South Korea are estimated at $7 billion (approximately 7.7 trillion KRW). Since 2010, Iran has opened won-denominated accounts under the name of the Central Bank of Iran at IBK Industrial Bank and Woori Bank, receiving payments for crude oil exports through these accounts. However, in 2018, the U.S. government placed the Central Bank of Iran on the sanctions list, halting transactions through these accounts, and the Iranian government has been demanding the release of these frozen funds.

This content was produced with the assistance of AI translation services.