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
Al Mayadeen's correspondent: One was killed, another injured in a raid by an Israeli drone on the city of Khiam in South Lebanon
London views possibility of setting fire to tanker in port of friendly country to Russia to damage port infrastructure, initiate an international probe: Moscow
One of London's scenarios involves setting up accident with 'undesirable' tanker in one of the bottlenecks of maritime communications: Russian foreign intelligence agency
London plans to organize major sabotage with tankers to declare transportation of Russian oil to international shipping: Russian foreign intelligence agency
UK intelligence agencies plan to use NATO allies to launch massive raid on 'Shadow Fleet': Russian foreign intelligence agency
Palestinian Ministry of Health: Two were martyred in Israeli shelling that targeted a besieged house in the town of Qabatiya in Jenin
At least 68 dead in migrant shipwreck off Yemen: IOM
Trump: We want to feed the people in Gaza, we do not want them to starve.
US President Donald Trump: We will impose sanctions on Russia if it does not end the war on Ukraine.
Israeli media: Polls show that 52% oppose Prime Minister Benjamin Netanyahu while only 29% support him.

S.Korea in talks with US, Iran over frozen Iranian funds: Ministry

  • By Al Mayadeen English
  • Source: Agencies
  • 11 Aug 2023 20:41
  • 1 Shares
3 Min Read

A spokesperson for the South Korean Foreign Ministry says Seoul hopes this matter can be resolved "smoothly".

  • x
  • South Korea
    South Korean flag (AFP)

South Korea would neither confirm nor deny media reports on Friday about the transfer of Iranian funds held in the country due to US sanctions but voiced optimism for a "smooth" resolution to the matter, South Korean news agency Yonhap reported on Friday.

On Thursday, Tehran confirmed that the process of releasing the $6 billion worth of Iranian funds, which have been unlawfully held in South Korea due to US sanctions, is currently in progress.

"We have nothing to confirm at this point," a South Korean Foreign Ministry official told reporters, as per Yonhap.

"The government has engaged in close consultation with relevant countries, including the U.S. and Iran, to address the issue of the frozen funds, and we hope this matter can be resolved smoothly."

According to Iran's state-run Islamic Republic News Agency (IRNA), the Iranian funds have been converted into euros at a Swiss bank.

It is noteworthy that relations between South Korea and Iran have deteriorated as a result of $7 billion in Iranian funds frozen in two Korean banks due to unlawful US sanctions, which were reimposed in 2018 after then-US President Donald Trump withdrew from the 2015 nuclear deal. Tehran has long demanded that Seoul unfreeze the funds.

Related News

South Korea's Yoon indicted again amid insurrection trial

South Korea's parliament pushes for Yoon's removal

The Iranian Foreign Ministry issued on Thursday a statement in response to widespread media reports about a potential prisoner swap agreement between Iran and the US, which includes the release of these funds.

The statement assured that Iran has received adequate guarantees for the US' commitment to fulfilling its obligations regarding the funds. The ministry emphasized that the release of these funds has always been a priority and that they had been unlawfully blocked due to concerns from overseas banks related to US sanctions.

Reports indicate that the release of these funds is part of a broader prisoner exchange deal between Iran and the US, where both sides would release several detainees held by each other.

In addition to the fund release, the Iranian Foreign Ministry said it has been actively pursuing the release of Iranian prisoners as part of its inherent duties. These prisoners were arrested under the pretext of violating US sanctions and have been held in US prisons.

The statement affirmed that the release of these prisoners is imminent and noted that those designated for release by the US are still on Iranian soil. However, reports suggest that the release of the detainees is contingent upon the transfer of Iranian funds to specific accounts designated by Iran.

Iran's Deputy Foreign Minister, Ali Bagheri Kani, also confirmed through a tweet on Thursday that the process of releasing the funds is underway and that the impending release of Iranians detained by the US will occur within the same framework.

Read more: Iran will have nearly $24 billion of its frozen funds released soon

  • Seoul
  • Iranian funds
  • Tehran
  • South Korea
  • Iran

Most Read

A rescued crew member from the ETERNITY C vessel in a video released by the Yemeni Armed Forces on July 28, 2025 (Yemeni Military Media)

Yemen Navy reveals fate of targeted Eternity C ship crew

  • Politics
  • 28 Jul 2025
An Israeli tank explodes following an ambush by al-Qassam Brigades in Gaza, Occupied Palestine, undated (Al-Qassam Military Media)

Al-Qassam strikes Israeli vehicles in Gaza, inflicts casualties

  • Politics
  • 30 Jul 2025
UAE lodges complaint against Israeli ambassador over 'misbehavior'

UAE lodges complaint against Israeli ambassador over 'misbehavior'

  • Politics
  • 1 Aug 2025
Protesters chant anti-Israeli slogans as they carry a banner that reads:" Freedom for Palestine, Alliance stop the war," during a demonstration in support of Palestinians in Gaza, outside the Israeli embassy, in Athens, Monday, June 9, 2025 (AP)

Athens mayor slams Israeli ambassador over Gaza war, graffiti claim

  • Politics
  • 3 Aug 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A member of the al-Qassam Brigades, the armed wing of Hamas, takes part in a parade as he celebrates a ceasefire agreement between Hamas and the Israeli regime in Deir al-Balah, Gaza Strip, Sunday, January 19, 2025 (AP)
Politics

Al-Qassam: We’ll allow aid to Israeli captives if Gaza siege ends

Freed Lebanese freedom fighter Georges Abdallah during an interview on Al Mayadeen, which aired on Sunday, August 3, 2025 (Al Mayadeen screengrab)
Politics

Exclusive: Resistance key to building state, Georges Abdallah says

United Nations Secretary General Antonio Guterres gives a statement about the situation in Gaza at UN headquarters, Friday, June 27, 2025 (AP)
Politics

UN warns Gaza faces water crisis, looming famine under Israeli siege

Israeli soldiers drive their armored personnel carrier along the Gaza Strip, in southern occupied Palestine, Wednesday, July 30, 2025 (AP)
Politics

Ex-Israeli general says Gaza starvation campaign isolated 'Israel'

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