South Korea: Iranian money will be released after consultations with the US

Iran has agreed to South Korea’s proposals on how to use its assets locked in Seoul, but any release of the money will take place after consultations with the United States, the foreign ministry said Tuesday.

South Korea: Iranian money will be released after consultations with the US

The ministry’s comment came after Tehran claimed that it had reached an agreement with Seoul on the transfer and use of about US$7 billion of its funds frozen in South Korean banks. The deal was reached Monday (Tehran time) during the meeting between Iran’s Central Bank Gov. Abdolnaser Hemmati and South Korean Ambassador to Iran Ryu Jeong-hyun, it said.

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