Friday, June 21, 2024

Iran says has no more blocked assets in any country

Iranian Foreign Minister Hossein Amirabdollahian has stated that Tehran has no more funds frozen in any country due to the US sanctions and that Tehran can now utilize its own assets.

The minister made the remarks while speaking to reporters in Tehran on Monday after Iran and the United States reached a deal regarding the unblocking of some $6 billion worth of Iran’s funds illegally blocked in South Korea under the pretext of US sanctions.

South Korean media reported on August 21 that the Iranian funds were transferred from South Korea to Switzerland’s central bank last week to be sent to Iran.

Pointing to the export of Iranian gas and electricity to Iraq, Amirabdollahian said the revenues earned from such sales would be deposited to the TBI (Trade Bank of Iraq), following which the Central Bank of Iran would use that money to buy the country’s required goods.

He added that the Iranian administration, since taking office some two years ago, has carried out serious measures to release the country’s blocked assets.

“Last year, we collected 390 million pounds of Britain’s debt which were related to the period before the victory of the Islamic Revolution [in 1979],” the top Iranian diplomat stated.

Iran used the released funds in a “legal and dignified” way for the purposes it preferred, he added, dismissing the oil-for-food claims about the assets.

Britain had delayed the payment for many years citing problems faced because of foreign sanctions against Iran. However, Tehran has insisted the debt should be settled regardless of issues that exist between Iran and the West.

The money was owed to Iran over an upfront payment made by the former Shah of Iran to Britain to buy 1,750 Chieftain tanks and other military vehicles.

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