Freed $10 Billion From Iran Frozen By US Sanctions

Iran-Iraq Chamber of Commerce Chairman Yahya Al Ishak, in his speech at the Iran-Iraq Chamber of Commerce meeting, assessed the developments regarding the release of his country’s foreign exchange resources, which were frozen. due to sanctions.

According to the Tesnim news agency, Al Ishak said: “Our demand from Iraq was $10 billion. The Iraqi minister approved the request for $10 billion and instructed that this amount be deposited in the Iraq Commercial Bank (TBI).

The Iranian official pointed out that the agreement on the use of the money in question covers products such as “basic items and non-sanctioned medicines.”

IRAN CANNOT ACCESS ITS ASSETS BY THE UNITED STATES

Iran is barred from South Korea’s $7 billion of foreign exchange earned from oil exports and held in South Korean banks due to unilateral US banking sanctions.

South Korea’s “The Korea Economic Daily” newspaper reported on May 30 that talks were held between Washington and Seoul to secure the release of Iran’s $7 billion worth of assets in South Korea.

The semi-official Iranian news agency ISNA, in its news published on June 6, announced that Tehran has agreed to release its frozen assets of $10 billion in Iraq and $7 billion in South Korea due to unilateral US banking sanctions.

As proxy negotiations between Iran and the United States continued, it was reported on June 10 that $2.7 billion of Iran’s assets frozen in Iraq had been released. (AA)