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.
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.
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.
De-dollarization is a strategic policy pursued by the Central Bank of Iran (CBI), says CBI Governor Mohammadreza Farzin.
Iran imported $3.1 million worth of goods from the US in the first month of 2023, down 36.73% compared with $4.9 million in January 2021, the latest data released by the US Census Bureau show.
Iran’s trade with the US stood at $56.7 million in 2022, registering a 40% rise compared with the previous year.
The US government has renewed a sanctions waiver for the Rhum gas field in the UK North Sea in which Iran has a 50% stake.
Iran’s trade with the US stood at $51.3 million during the first 11 months of 2022, registering a 37.53% rise compared with the previous year.
Iran and the US traded $42.2 million worth of goods in the first nine months of 2022 which was 41 percent more than the corresponding figure for 2021 which was $29.9 million.
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.