Iran South Korea

Frozen Iranian assets transferred to Swiss central bank - Reuters

Iranian assets that had been frozen in South Korea were transferred to Switzerland’s central bank last week for exchange and transfer to Iran, according to a Monday report by Reuters which cited South Korean media.

Iran Economy

Report reveals more details of unblocking Iranian funds in South Korea

The process to unblock Iran’s funds in South Korea that have started under an emerging prisoner swap deal between Iran and the US would take at least four weeks, according to a report published by a local Iranian news agency.

Iran Economy

Iran wins release of over $10bn worth of blocked funds: Source

A source has revealed that Iran has finally gained access to more than $10 billion worth of its funds that were illegally frozen in bank accounts in South Korea and Iraq because of alleged compliance with US sanctions.

Financial Markets

Iran to refer frozen funds dispute with South Korea to arbitration

Tehran has officially started the process of referring the dispute with South Korea over Iran’s blocked funds in Seoul to international arbitration.

Iran Economy

Iran, US agree on unfreezing Iranian funds in South Korea

The United States and Iran have reached an understanding about how to unblock billions of dollar worth of Iranian funds that have remained inaccessible in two banks in South Korea because of US sanctions, according to a new report.

Iran Economy

South Korea says will unfreeze Iranian funds once nuclear deal is restored

South Korea has repeated its position on the return of more than $7 billion of Iranian funds blocked in the country because of American sanctions on Tehran as a top diplomat says the funds will be repatriated once Iran and world powers agree to revive a 2015 nuclear deal, known as the JCPOA.

Trade

Seoul says will negotiate with Tehran, Washington over Iran frozen funds

South Korean Foreign Minister Park Jin has said his country will need more talks with both Iran and the United States to be able to release billions of dollar worth of Iranian funds that have remained blocked in South Korea for the past years allegedly because of American sanctions on Tehran.

Trade