Iran pays $30m from money blocked in S Korea to buy COVID-19 vaccine
IRNA - Islamic Republic News Agency
Tehran, April 21, IRNA â€“ The head of the Iran-South Korea Joint Chamber of Commerce told IRNA on Wednesday that 30 million dollars from Iran's approximately seven billion dollars blocked in South Korea has been paid to purchase the COVID-19 vaccine.
"We were hopeful that the agreement between the two counties would be implemented, but a small percentage has so far been done," said Hossein Tanhaee.
Tanhaee said that one billion dollars of the money was supposed to be paid to Iran in cash, which has not been done so far.
He added that if the agreement is implemented, the process of the repayments will be facilitated and accelerated.
Since 2018, seven billion dollars of Iranian oil money has been blocked in two South Korean banks.
In the last month's trip of the South Korean prime minister to Tehran, an agreement was made about the method of unfreezing the Iranian money.
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