“The $3.5 billion in assets claimed to have been released was not part of Iran’s frozen assets in South Korea,” Hossein Tanhai added.

He made the comment after a report was released claiming $3.5 billion in Iranian assets had been freed up.

The largest amount of frozen Iranian assets is in South Korea, standing at $7 billion.

He also touched upon the status of trade transactions between the two countries,

“Exchanges between the two countries are very little and are mostly related to small firms working together unofficially,” he explained.

“But as Major South Korean firms mostly work with the U.S., they are not working with Iran. Trade transaction between the two countries is tiny, amounting to less than $150 million,” he said.

“Most of our imports from South Korea include medical goods and paper. Our exports to that country is very limited and mostly includes oil and petrochemical products, which are exported to the country indirectly,” he said.

He stipulated that South Korea’s new envoy to Tehran has economic vision and tries to continue economic programs rather than political issues and for this reason, South Korea is in talks with the U.S. officials in order that the U.S. exempts Seoul from sanctions against Iran.

South Korea refuses to release Iran’s frozen assets in the country under the United States’ pressure. Tehran has, time and again, called on Seoul not to be swayed by the White House and to free up Iran’s money. However, the South has, so far, failed to take practical action in that regard.

Tanhai’s remarks when managing Director of Islamic Republic News Agency (IRNA) Ali Naderi has declared that more than 3.5 billion dollars of Iran’s assets blocked in another country have been unfrozen recently. He did not mention more details.

The post S. Korea Has Not Released Iran’s Frozen Assets appeared first on Iran News Daily.

Speaking to ILNA and reacting to Iraqi Prime Minister’s visit to Tehran, Al-e Eshaq said Mostafa Al-Kadhimi and his seven cabinet ministers’ visit to Tehran shows the importance of the visit, adding that Al-Kadhimi was the first foreign political feature who paid a visit to Tehran under the new government in Tehran and it will have definitely good outputs.

He noted that the ties between Tehran and Baghdad are built based on long term strategies, as the trade volume between the two states in the past has been between 3 to seven billion dollars and it can rise to 20 to 30 billion dollars in the future.

He went on to say that there are good grounds for Iran’s exports to Iraq in the fields of non-oil, oil and developmental projects and it is expected cooperation in the developmental projects in Iraq to increase.

On Iran’s blocked assets in Iraq, Al-e Eshaq said that most of the blocked assets are related to the oil and electricity and the private sector has received its money in Iraq, adding that the two countries have reached an agreement and interaction is underway for unblocking the money.

The post Tehran, Baghdad Agree on Iran Frozen Assets appeared first on Iran News Daily.

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