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  • 11-06-20

    South Korea banks neglect to release billions withheld for Iran

    (MENAFN)

    As reported by Bloomberg, Abdolnaser Hemmati, the head of the Central Bank of Iran, stated that the actions of banks in South Korea were stopping Iran from using the money to purchase foods and medicines, trade that's exempt from U.S. sanctions.

    Hemmati said in a written response to questions, "It is appalling to see that Korean banks have conveniently neglected their obligations, common international financial agreements, and decided to play politics and follow illegal and unilateral U.S. sanctions." He added that Iran could start legal action to gain access to the funds, he said, without naming the moneylenders in question.

    Hemmati also didn't explain the course of action that Iran may take.

    MENAFN1106202000450000ID1100306272

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