Jul 15, 2020 08:08 UTC
  • Oman, China cooperating on blocked funds belonging to Iran: Zarif

Foreign Minister Mohammad Javad Zarif said his department would exhaust all means to have the country’s blocked funds released, adding that China and Oman have been the most supportive in this regard.

In a meeting with parliamentarians on Tuesday, Zarif said, however, that countries like South Korea have not responded positively to Iran’s repeated requests for release of funds that have reportedly been blocked because of the illegal US pressure.

“Some countries like Oman and China have acted positively on return of these funds but South Korea has not taken any significant action in this regard,” said Zarif, according to remarks published by parliament’s news service.

Iranian authorities have been pressing South Korea to release between $6.5 billion and $9 billion in frozen funds so that Tehran could use them for purchase of basic goods.

Business sources said last week that Seoul had agreed to allow Iran use part of the funds for purchases of drugs and medical equipment.

Zarif said the South Korean government claims it has “certain problems” in transferring the money it owes to Iran mainly because of the illegal US sanctions.

“On the one hand, we are negotiating for the return of the blocked funds and on the other, there has been some proper legal actions,” said the top Iranian diplomat without elaborating on what legal path Iran has taken to secure the release of funds.