Aug 12(LycansEye)- Iran top financial official, Mohammad Reza Farzin, took to social media to share significant news: all the previously frozen funds Iran held in South Korea have been unlocked and are now at their disposal. These funds are earmarked for purchasing items that aren’t subject to international sanctions.
This announcement coincides with what was communicated by Washington the day before. The United States outlined specific conditions surrounding the utilization of these funds, given the ongoing negotiations. The release of these funds was part of a broader agreement that led to the transfer of five detained Americans from imprisonment to house arrest in Tehran.
White House spokesperson John Kirby provided additional insight, noting that Iran’s access to these unfrozen funds is specifically designated for acquiring essentials like food, medicine, and medical equipment that serve civilian needs, with no potential for military applications. These funds, which amounted to approximately $6 billion, had been held in South Korea.
The liberation of these funds will also pave the way for the departure of the five American individuals who have been confined in Iran, as per information from a source familiar with the matter.
In a message posted on the messaging platform X (formerly known as Twitter), Farzin expressed his gratitude and acknowledged the achievement of the foreign exchange diplomacy team, who facilitated the release of these previously inaccessible funds. He also mentioned that the expenses tied to converting the funds from South Korea’s currency (won) to euros would be borne by a “third country,” the location where the funds will be deposited for the purchase of goods not subject to international sanctions