Iran To Gain Access To Its Frozen Assets Abroad In Coming Weeks - Iranian Finance Minister

Iran will soon gain access to $24 billion of its frozen funds in Iraq and South Korea thanks to the efforts of the country's foreign ministry and the Central Bank, Iranian Finance Minister Ehsan Khandouzi said on Tuesday

MOSCOW (UrduPoint News / Sputnik - 13th June, 2023) Iran will soon gain access to $24 billion of its frozen funds in Iraq and South Korea thanks to the efforts of the country's foreign ministry and the Central Bank, Iranian Finance Minister Ehsan Khandouzi said on Tuesday.

"With the incessant efforts of the Ministry of Foreign Affairs and the Central Bank of Iran (CBI), good progress and achievements have been made in this area, the results of which will be witnessed in coming weeks," Khandouzi was quoted as saying by Iranian news agency Tasnim.

On June 6, Iranian media reported that Iran would soon gain access to $24 billion of its frozen funds in Iraq and South Korea, as well as resources in the International Monetary Fund (IMF).

According to ISNA news agency, $7 billion of Iran's frozen assets will be released from South Korea and more than $10 billion from Iraq. In addition, Tehran will reportedly gain access to $6.7 billion of its special drawing rights in the IMF, ISNA said.

Earlier in June, $2 billion from Iran's blocked funds were allocated for the purchase of basic goods, Ali Shariati, a member of the Iranian Chamber of Commerce, said.

Iran has been under US sanctions for several years because of the development of its nuclear program. The sanctions restrict oil exports from Iran and block accounts of the Iranian authorities, as well as high-ranking officials and legal entities.