Showing posts with label oil payments. Show all posts
Showing posts with label oil payments. Show all posts

Tuesday 19 September 2023

Iranian statement on the release of assets

Following the release of Iran’s funds that had been held in South Korea due to the US sanctions, the Iranian Foreign Ministry released a statement about the money and the prisoner swap with the United States.

“In order to achieve the rights of Iranian nationals all over the world as well as Iranians residing in the US and within the framework of an independent process, five Iranian citizens who were illegally prosecuted by the US judicial system due to their normal business activities were released and returned to their families,” the ministry said in the statement. 

“Prior to that, the Iranian assets in South Korea - which had been frozen due to the US pressures, making it impossible to use them for years - were unlocked thanks to diligent pursuit of the issue by the Foreign Ministry and Central Bank of the Islamic Republic of Iran. Through a financial and banking process that lasted several weeks, the assets were transferred to the accounts of Iranian banks in Qatar,” the statement added.

It further continued, “These assets are under the control of the Central Bank of the Islamic Republic of Iran and will be used at the discretion of relevant Iranian authorities and based on the country’s needs and priorities.”

“Undoubtedly, the policies and actions of different administrations in the US in preventing Iran’s free and legitimate access to its financial resources in other countries are illegal and inhumane,” read the statement.

“Nevertheless, the illegal move of the US to abuse the international banking system and put pressure on other countries to limit Iran’s access to its assets does not in any way mean that the governments where these assets are kept have no responsibility in this regard, and those governments must be held to account for their unjustified move to comply with the illegal demands of the US government, the financial losses inflicted on Iran as a result of the long-term freezing of Iranian assets and its humanitarian consequences, especially during the Covid-19 pandemic,” it noted.

The ministry also stressed, “The Iranian people will never forget that. Even during the peak of the Covid-19 pandemic the US regime, while ignoring the health emergency and humanitarian issues as well as repeated requests by the UN secretary general and human rights officials, denied Iran access to its financial resources in South Korea.”

“The Islamic Republic of Iran hereby thanks the government of Qatar for playing an effective role in transferring the assets of Iran and exchanging the prisoners. We also appreciate the valuable efforts of the Sultanate of Oman to advance this process and also the Swiss government’s cooperation and assistance in facilitating all this,” the Foreign Ministry concluded.

Five Iranians who had spent years in US jails were released on Monday in a prisoner swap between Tehran and Washington mediated by Qatar.

“After a successful team effort, five innocent Iranian compatriots in American prisons will be free today and two of them will enter Tehran via Doha,” Kazem Gharibabadi, Secretary General of Iran’s High Council for Human Rights, wrote on his X account on Monday.

“The High Council for Human Rights, alongside the government and the judiciary, will remain determined to uphold the rights of Iranians abroad,” he added.

Earlier Monday, Iranian Foreign Ministry spokesperson Nasser Kanaani stated that two of the inmates will be returned to Iran, one will join his family in a third country, and two will remain in the United States.

The process of implementing an agreement with the US on the release of Iran’s assets as well as a prisoner swap has progressed at a favorable pace, said the spokesman.

Back in August, the United States and Iran agreed to liberate five American prisoners in exchange for the release of a number of Iranians held in the US and access to around $6 billion in Iranian oil revenues in South Korea.

It is worth noting that the US is to blame for all moratoriums made in such talks because it had illogically and futilely resisted all legitimate demands by Iran. The American officials thought they had the upper hand in the talks and gave the cold shoulder to any proposals.

 

Tuesday 30 May 2023

United States and South Korea in talks to release frozen Iranian assets

Officials from the United States and South Korea are holding talks over unfreezing Iranian funds held in South Korean banks, according to a South Korean daily.

The talks are focused on releasing the US$7 billion Iranian funds that have long been blocked in South Korean banks due to US sanctions on Iran. The funds are oil revenues dating back to the period prior to the re-imposition of US sanctions on Iran in May 2018.

Citing diplomatic and government sources, The Korea Economic Daily said, “Korean and US government officials are involved in working-level discussions under Washington’s leadership to unfreeze the Iranian funds.”

The newspaper said the funds, if released, would only be used for public and humanitarian purposes such as UN dues and COVID-19 vaccines.

“If all goes to plan, we expect our strained relationship with Iran to improve significantly,” said a Seoul government official.

If talks turn out to be successful, the frozen money will be allowed to be transferred to Iranian bank branches in neighboring Middle Eastern countries, not directly to Iran, to monitor the flow and use of the funds, sources said.

The Korean newspaper also pointed to media speculation over the concessions that Iran is expected to make in exchange for getting its money unfrozen. It said that media reports alleged that Iran would release US prisoners and limit uranium enrichment levels to 60% in return. These speculations have so far not been confirmed by officials.

The frozen Iranian funds have been the biggest obstacle to improvement in Tehran-Seoul relations. They have also been a source of tensions between the two countries.

South Korea seems to be willing to improve its relations with Iran by releasing its funds. “Analysts said if the US$7 billion Iranian funds are released, it would significantly improve Seoul’s relations with Tehran, an energy and military power in the Middle East,” the Korean newspaper wrote.

“There is nothing South Korea can gain from becoming an enemy of Iran,” said Sung Il-kwang, a Korea University professor. “Korea will benefit from gaining access to Iran’s huge market.”