Iran Says Unblocked S.Korea Funds to Be Used for ‘Non-Sanctioned Goods’

(Reuters) – Iran’s central financial institution chief stated on Saturday that each one of Iran’s frozen funds in South Korea had been unblocked and could be used for “non-sanctioned items”.

Mohammad Reza Farzin’s put up on social media appeared to verify feedback a day earlier by Washington, which stated there could be restrictions on what Iran might do with any funds unfrozen underneath an rising deal that has led to the discharge of 5 Individuals from jail to accommodate arrest in Tehran.

White Home spokesperson John Kirby stated Iran might solely entry the funds “to purchase meals, drugs, medical gear that may not have a twin army use.” An estimated $6 billion in Iranian property have been held in South Korea.

The 5 Individuals can be allowed to depart Iran as soon as the funds are unfrozen, a supply acquainted with the matter informed Reuters.

Farzin wrote in a put up on messaging platform X, previously referred to as Twitter, that the funds could be transferred to 6 Iranian banks in Qatar.

“Congratulations to the overseas alternate diplomacy crew for efficiently releasing seized overseas forex assets,” he stated within the put up.

He added that the prices of changing the funds from South Korea’s gained forex to euros could be accepted by the “third nation” the place the cash could be deposited to purchase “non-sanctioned items”. 

(Reporting by Dubai newsroom; Enhancing by Helen Popper)

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