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.
For the first time in Iran's aviation history, a flight carrying an all-female crew and…
Tehran’s Cyber Police Chief, Brigadier General Davood Moazzami Goudarzi, announced a crackdown on individuals causing…
Doha will stop gas shipments to the EU if member states enforce new legislation on…
At least 15,000 British soldiers left the country's Armed Forces between November 2023 and October…
Journalists have identified the names of 84,761 Russian soldiers who died during the war in…
The United States Navy has inadvertently shot down its own F/A-18 fighter jet in a…