President Hassan Rouhani has urged the Central Bank of Iran (CBI) to continue following up on the release of the country’s frozen assets in foreign banks.
Speaking with the president over the phone, Governor of the Central Bank Abdolnasser Hemmati said the Central Bank is pressing ahead with its efforts to secure the release of Iranian assets blocked in other countries.
He also said the CBI is to auction treasury bonds to fund the budget deficit through market liquidity this week.
Under US pressure, billions of dollars of Iran’s oil money and other funds are held up in several countries at a time when they are urgently needed in the country’s fight against the novel coronavirus which has killed over 8,000 Iranians so far.
In late March, Hemmati promised that some of the country's frozen assets will be released with the efforts of the Foreign Ministry and the Central Bank.
Governor of the CBI further last week called on South Korean banks to release Iran’s oil money frozen under US pressure, warning that the Islamic Republic reserves the right to take legal action under international law.
Iran’s Foreign Ministry says South Korea is about $7 billion in arrears for oil exported before the Trump administration last year reimposed penalties on Iran’s crude sales.
Iran is unable to buy medicine and medical equipment due to US economic sanctions which the Trump administration has obstinately been tightening despite international calls for their suspension.