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.
The source told IRNA on Thursday that the funds had been released under an initial deal reached with the United States and will include $6 billion worth of funds blocked in South Korea as well as a “significant amount” of funds blocked in the Trade Bank of Iraq.
The source said that the funds had been released under a prisoner swap deal with the US which will see the two sides release and repatriate five prisoners.
Under deal, the Iranian funds in South Korea have been changed into euro in a bank in Switzerland and were ready to be transferred to an account in Qatar’s central bank, said the source.
The source said, however, that the US prisoners had been transferred “to a place outside prison” for the purpose of prisoner exchange, adding, however, that they would not be freed until the funds are transferred to accounts designated by Iran under the deal.