Hamid Baeidinejad said Iran and the UK were looking at novel ways for the debt to be paid, theguardian.com reported.

Baeidinejad said the size and the interest was agreed between the two parties, and it was natural for discussions to start from how the payment could be made.

The pervasive US sanctions, imposed on Tehran following Washington’s May 2018 withdrawal from a 2015 nuclear deal between the Islamic Republic and the P5+1, make it difficult to make a payment to the Central Bank of Iran.

According to theguardian.com, the possibility of the debt being paid off through medicines and humanitarian goods is being discussed.

Baeidinejad added, “The legal process of this long-running case, which has been going on for more than 50 years, is nearing its end. The court has ordered the British government to pay the Iranian debt plus interest, and this cannot be changed. At the same time, the opposing lawyers have tried to use every legal opportunity to delay the practical execution of the court’s decision.”

He said, “It is natural to come up with ideas for the type of payment as the time comes to pay off the debt, given the complexities and banking problems. The Islamic Republic of Iran also has ideas for expediting the debt. Finalizing the payment method requires a mutual agreement, and talks are underway to determine the details of how the agreements will be implemented.”