Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Head of Intelligence and General Security in Qom, Iran: Since beginning of Zionist aggression, 22 people have been arrested on suspicion of affiliation with Israeli intelligence, accused of attempting to sow public chaos and support for "Israel".
Al Mayadeen's correspondent: 8 collaborators with Israeli entity caught attempting to flee through Iran's western borders.
Araghchi: We will seize this opportunity to convey the voice of Iran's rights and the legitimate defense of our people to the world
Iranian Foreign Minister, Abbas Araghchi, ahead of the OIC foreign ministers' meeting in Istanbul: We hope a strong statement will be issued condemning the aggression
Israeli media: Sirens sound in northern occupied Palestine following a drone infiltration
Al Mayadeen's correspondent: Two martyrs reported in the Israeli aggression on Qom, Iran
IRGC: The operation successfully destroyed the pre-determined targets
IRGC: We launched a heavy barrage of Shahed-136 suicide and attack drones, in addition to precision missiles
IRGC: The 18th wave of Operation True Promise 3 was directed at military targets and operational support centers of the occupation army
Al Mayadeen's correspondent: Iranian air defenses activated above Tabriz and Zanjan

Iran to possibly get $7 billion in unfrozen funds from S.Korea

  • By Al Mayadeen Net
  • Source: Agencies
  • 12 Apr 2022 08:23
3 Min Read

A high-ranking regional official will visit Tehran to finalize plans for the release of $7 billion in Iranian assets on April 12, which might be transferred to the Central Bank of Iran's account in Oman.

  • x
  • Iran may get $7 billion in unfrozen funds
    Iran has repeatedly demanded the release of its frozen assets in South Korea

Iranian news agency Tasnim has gathered that a regional figure, most likely the foreign minister of Oman, would conduct a visit to Tehran on Tuesday to finalize the procedure for the release of $7 billion in Iranian overseas assets that have been frozen due to sanctions.

The sum of $7 billion appears to be remitted to the Central Bank of Iran's account at the Central Bank of Oman.

Iranian Foreign Ministry Spokesperson Saeed Khatibzadeh was asked about the process of settling South Korea's debt to Iran during a press briefing on Monday.

Dismissing media speculation, the official stated that South Korea is unquestionably in debt to 80 million Iranians for the purchase of oil and gas condensates.

“South Korea has not taken any effective measure to repay the debt. This is a bilateral matter and should be settled within a bilateral framework,” he added.

Related News

EU prepares contingency plan amid US uncertainty over Ukraine aid

France to fund €1.4Bln from frozen Russian assets for Ukraine military

The late US administration, led by President Donald Trump, effectively demolished the Joint Comprehensive Plan of Action (JCPOA) by abandoning it and reinstating the sanctions that the nuclear agreement had lifted, in addition to implementing additional bans under alternative labels.

South Korea and other US allies chose to comply with the infringement by suspending trade with the Islamic Republic and refusing to pay their debts to Iran, which were largely for oil.

Iran has repeatedly demanded the release of its frozen assets in several nations, including $10 billion in South Korea, but Seoul has appealed to Washington for permission to discharge its debt.

Last July, the US Department of State announced that it issued an exemption on some of Iran’s blocked funds in South Korea and Japan to allow them to import oil from Iran.

The waiver, signed by Secretary of State Antony Blinken, allows the transfer of Iranian funds in restricted accounts to exporters in Japan and South Korea.

The waiver allows the Iranian money that had been blocked as a result of the US sanctions to be freed up without violating the law.

The Bank of Korea holds around $2.7 billion deposited by the Seoul branch of Iran's Bank Mellat, while more than $7 billion in Iranian oil money is held by the Industrial Bank of Korea and Woori Bank. The unwillingness of South Korea to release them has resulted in a diplomatic controversy.

  • Iran
  • frozen assets
  • Cemtral Bank of Iran
  • Oman
  • Tehran

Most Read

Bin Salman: Islamic world backs Iran in call to Pezeshkian

MBS says Islamic world backs Iran in call with Pezeshkian

  • MENA
  • 15 Jun 2025
Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

  • MENA
  • 17 Jun 2025
Rescue team work at the site where a missile launched from Iran struck Tel Aviv, Israel, Monday, June 16, 2025 (AP)

Wave 12 of Operation True Promise 3 launched, Sejjil deployed: IRGC

  • Politics
  • 18 Jun 2025
Iran launches missile barrage to Tel Aviv, casualties reported

True Promise 3, wave 14: Tel Aviv targeted, casualties reported

  • Politics
  • 19 Jun 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A motorcycle is on fire after an Israeli drone strike targeted it in the southern Lebanese village of Baraachit, June 20, 2025 (Social media)
Politics

Israeli airstrikes in southern Lebanon lead to casualty, martyr

An Israeli military vehicle before it was targeted in Operation Breaking the Sword in Gaza, undated (Al-Qassam Brigades Military Media)
Politics

Gaza Resistance pounds invading Israeli forces in joint operations

Israeli occupation forces and emergency teams work next to an unpopulated building after it was hit by a missile fired from Iran, in Haifa, occupied Palestine, Friday, June 20, 2025 (AP)
Politics

Iran bombs Israeli Interior Ministry in tit-for-tat response

A man is evacuated by an Israeli emergency team after a missile from Iran hits in Haifa, Israel, Friday, June 20, 2025 (AP)
Politics

1,217 injured in 'Israel' from Iran retaliation amid rising tensions

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS