March 7, 2021

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Iran, South Korea agree on transfer of Iran’s assets

In the meeting convened at the request of South Korean embassy, an agreement on transfer of  Iran’s assets to specified destinations and CBI’s decision on amount of the transfer and destination banks were determined, according to CBI Public Relations Office.

South Koran Ambassador said that his Government was ready to take any measure required to use all Iran’s assets in South Korea and there was no cap or limitations.

Welcoming the approach by South Korea, Hemmati said that the Islamic Republic of Iran, however, would stand up for its rights regarding damages caused by non-cooperation by Korean banks in recent years.

He underlined that South Korea had to do a lot to remedy the negative background.

The Islamic Republic of Iran has been prevented from using its assets with Korean banks, due to the Korean banks’ full cooperation with the US maximum pressure against Iran, Hemmat said.

Korean banks’ debt to Iran amount to 9.2 billion dollars, according to Korean New Agency Yonhap.


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