Blinken: "If Iran Fails to Comply with Nuclear Deal Terms, South Korea Cannot Release Frozen Funds"

[Image source=EPA Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] U.S. Secretary of State Tony Blinken drew a line on the possibility of easing sanctions for the U.S. return to the Iran nuclear deal (JCPOA - Joint Comprehensive Plan of Action) and mentioned the Iranian funds frozen in South Korea.

According to AFP, Secretary Blinken appeared before the House Foreign Affairs Committee on the 10th (local time) and, when asked about the release of Iranian funds frozen in South Korea, stated, "There will be no release of Iranian funds frozen in South Korea until Iran fully returns to the conditions of the nuclear deal."

Blinken emphasized again that sanctions relief is only possible if Iran complies with the nuclear deal conditions, saying, "If Iran complies with the nuclear deal conditions, we will take the same action."

Recently, Iran has repeatedly emphasized that sanctions must be lifted first before the U.S. returns to the nuclear deal. It has also mentioned withdrawing funds frozen in countries like South Korea.

The Biden administration expressed on the 18th of last month that it could meet with Iran under the supervision of the European Union to return to the Iran nuclear deal, but Iran has been pressuring for pre-sanctions relief only, and negotiations between the two sides have not been held.

Our government stated last month that Iran agreed to South Korea's proposal to release Iranian funds frozen in South Korea, but it is an issue that requires consultation with the U.S., and the release has not been finalized. Earlier, Iran announced that it agreed to South Korea releasing about 1 billion dollars of the frozen funds.

The Iranian won-denominated funds frozen in South Korea due to U.S. sanctions are known to amount to approximately 7 billion dollars.

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