Iran’s UN Debt to Be Paid from Blocked Iranian Funds in South Korea
Iran’s debt to the United Nations will be paid from financial resources that are blocked in South Korea. South Korea has stated that principal agreements have been reached on this matter and only final implementation remains.
South Korea’s news agency reported on Wednesday, February 3rd, citing a government official, that the country intends to use part of Iran’s assets frozen in Seoul banks to pay the Islamic Republic’s debt to the United Nations, in consultation and agreement with the United States.
The South Korean government official stated that the main part of this measure has been completed and only decisions regarding its technical details remain. He said he hopes that with this action, “Tehran will recognize our sincerity.”
The Islamic Republic had requested that South Korea pay part of Iran’s debt to the United Nations from blocked funds; for this to happen, the debt amount must first be converted from Korean currency to US dollars.
Since the United States has prohibited Iran from any transactions involving dollars, South Korea intends to use alternative methods to pay Iran’s debt.
Meanwhile, South Korea intends to obtain US approval to use part of Iran’s assets for “humanitarian purposes.”
According to South Korea’s news agency, this agreement likely prompted Tehran to announce its approval for the release of more crew members of a South Korean oil tanker. The previous day (Tuesday), the Islamic Republic announced that the ship’s crew, except for its captain, could leave Iran.
The ship in question was seized approximately a month ago by the Islamic Revolutionary Guard Corps for “environmental pollution” and brought to Iranian shores. Twenty crew members, including five South Korean nationals, were temporarily detained.
Despite the Islamic Republic’s denial, suspicions grew stronger that the true purpose of this operation was to pressure South Korea to release approximately $7 billion of Iran’s assets in that country.
South Korea has repeatedly stated that it is ready to pay its debt to Iran, but due to US sanctions against Iran’s financial and banking activities, it is unable to do so.
Oil Tanker Seizure under the Guise of “Environmental Protection”
The South Korean ship named “Hankook Chemi,” carrying 7,200 tons of oil products with a crew of 20, was seized on January 5th by the Islamic Revolutionary Guard Corps for “violating the Persian Gulf’s ecological protocols.”
Seoul’s Foreign Ministry stated in a statement that Iranian authorities provided no evidence regarding the environmental contamination of the oil tanker in its waters.
The crew of this oil tanker consists of citizens from Indonesia, Myanmar, South Korea, and Vietnam, and they are all being detained in Bandar Abbas.
South Korea announced that the seizure of the oil tanker in the Strait of Hormuz by the Revolutionary Guard Corps was aimed at “pressuring the country to release Iran’s assets.”
The deputy foreign minister of South Korea, during a visit to Tehran, emphasized to Iranian officials that his country’s financial system is closely linked with the American financial system and the release of Iran’s blocked assets requires Washington’s cooperation.
Source: DW
