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  • 17-06-20

    Iran to take back funds from South Korea

    (MENAFN)

    Governor of Central Bank of Iran (CBI) Abdolnasser Hemmati stated that the country will regain its funds from South Korea through legal and global channels, IRNA said.

    The official also expressed his optimism that the South Korean government would take by its commitments and not block access to those funds under the pretext of the U.S. sanctions.

    Iran is intensifying its pressure on South Korea to release billions of dollars of oil-export profits, saying that Seoul is buckling to pressure from its U.S. ally and illegally withholding funds necessitated to face the West Asia's worst coronavirus pandemic.

    In the previous week, Hemmati stated that the deeds 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, Bloomberg reported.

    "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," Hemmati said in a written response to questions. Iran could start legal action to regain access to the funds, he stated, without naming the lenders in question.

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