TEHRAN (Iran News) – Some S. Korean Pharmaceutical Firms Halt Cooperation With Iran. Secretary of Iran-South Korea Joint Chamber of Commerce Pouya Firouzi says some South Korean pharmaceutical companies have stopped cooperating with Iran, admitting that Seoul still follows the structure of the U.S. sanctions against Iran.
Speaking to ILNA, Firouzi said that only some $50m of Iran’s blocked assets in South Korea has been released for imports of some items of goods like medicines, medical and dentistry equipment.
Touching upon the latest condition of trade between Tehran and Seoul, he said unfortunately no practical action has been taken for the release of Iran’s frozen money in South Korea and only talks have been underway and it has never been halted but so far no practical action has happened and as long as its output is not seen, it is unreliable. He noted except imports of medicines in exchange of Iran’s frozen money, no practical action has been taken.
On the imports of medicines, he stipulated that during the time that Iran’s money has been frozen in South Korea, only some $50m of it has been released and spent for imports of medicines and medical equipment, adding that some South Korean companies which export medical equipment to Iran have even stopped cooperation.
On Iran’s full membership to the Shanghai Cooperation Organization, he said it will have definitely its own impact on the non-member states of the bloc for economic cooperation with Iran but one cannot say that it can help Iran to retrieve its frozen money.
Firouzi added that since South Korea follows the structure of the U.S. sanctions against Iran, Iran cannot see any change for the release of its assets in South Korea.