The Strategist

Iran's Central Bank: Iran’s $6 billion in assets unlocked in South Korea

08/14/2023 - 10:22

Iran's frozen assets in South Korea have been unblocked, said Mohammad Reza Farzin, governor of the Iranian Central Bank.

Blondinrikard Fröberg
Blondinrikard Fröberg
Iranian central bank governor Mohammad Reza Farzin declared unblocking of all of Iran's frozen assets in South Korea via his page on the X platform (formerly known as Twitter). About $6 billion would be sent to accounts at six Iranian banks in Qatar, the governor of the central bank said, and will be used to purchase "goods that are not subject to sanctions."

Farzin thus reaffirmed the White House spokesman's remark, who made the announcement the day before that South Korean assets had been unblocked in exchange for Tehran releasing five American prisoners and placing them under house detention.

According to the conditions of the deal, the White House noted, Iran can only use the money "to buy food, medicine, and medical equipment that have no second military purpose." The five American citizens will be permitted to leave Iran if the assets are unlocked, a source told Reuters.