An estimated 10 trillion won ($9.2 billion) in Iranian funds is currently frozen at South Korean banks under US sanctions.
The figure was announced on Tuesday by South Korean news agency Yonhap, which quoted the country’s banks as saying.
As of September last year, about 3 trillion won worth of Iranian money was held at the Bank of Korea. The money was deposited by the Seoul branch of Bank Mellat of Iran.
Separately, about $7 billion worth of Iranian oil money was frozen at two South Korean banks — Industrial Bank of Korea and Woori Bank.
Hossein Tanhaee, head of the Iran-South Korea Joint Chamber of Commerce, reportedly said last year that the amount of Iran’s frozen funds in South Korea is between $6.5 billion and $9 billion.
Tensions between Seoul and Tehran rose on Monday after the IRGC seized a South Korean-flagged tanker in Persian Gulf waters, citing “chemical pollution” offences.
A South Korean delegation is to visit Tehran in coming days to discuss possible resolution of the disputes.
Aid items donated by millions of Iranians within a national campaign, have reached the beseiged…
Iran's Deputy Foreign Minister Majid Takht Ravanchi has said Iran and Saudi Arabia are committed…
Behrouz Kamalvandi, the spokesperson for the Atomic Energy Organization of Iran (AEOI), says the organization…
Hundreds of people gathered in Tehran on Friday morning in front of the United Nations…
An international law expert and analyst has revealed the U.S. plans to impose punitive measures…
Iran’s Minister of Science, Research, and Technology, Hossein Simayee Saraf, addressed on Thursday academic migration…