Frozen Iranian funds successfully transferred from South Korea to a third country

Shafaq News/ The South Korean Foreign Ministry announced on Tuesday the successful transfer of Iranian funds, previously frozen in Seoul due to financial sanctions against Iran, to a third country.

This transfer was part of a comprehensive prisoner exchange agreement that took place recently, involving the release of five Americans held by Iran and the release of five Iranians detained by the United States.

Six billion dollars of Iranian funds, previously held in South Korea, were transferred to the third country as a key component of the deal.

The South Korean Foreign Ministry revealed that these funds, now located in Qatar, are earmarked for humanitarian purposes, including food and medicine, similar to their previous utilization when held in South Korea. The ministry expressed optimism that this successful transfer would further improve bilateral relations between South Korea and Iran.

The South Korean government expressed gratitude to the governments of Qatar and Switzerland for their constructive roles in resolving the issue.

Switzerland represents American interests in Tehran, as diplomatic relations between the United States and Iran do not exist.

As part of the deal, Iran released five American detainees. Still, despite this step, the U.S. Secretary of State Anthony Blinken reiterated the State Department’s “clear warning” to U.S. citizens: “Do not travel to Iran,” explaining that “there is no way to guarantee a similar result for other Americans who decide to travel to Iran despite the U.S. government’s longstanding warning against doing so.”