World
Frozen Iran assets transferred to Swiss central bank: Reports
Iranian assets that had been frozen in South Korea were transferred to Switzerland’s central bank last week for exchange and transfer to Iran, South Korean media reported on Monday.
The Swiss National Bank plans to exchange its $6 billion holdings in won for dollars and then euros in the currency market, converting about 300 billion won ($223.85 million) to 400 billion each day for next five weeks, Yonhap Infomax reported, citing an unnamed currency market source.
For all the latest headlines, follow our Google News channel online or via the app.
An official at South Korea’s finance ministry declined to confirm the report, citing the legal and diplomatic sensitivity of the matter.
Iran and the United States recently reached an agreement in which five US citizens detained in Iran would be released while Iranian assets in South Korea would be unfrozen and sent to an account in Qatar that Iran could access.
Iranian President Ebrahim Raisi said last week that the released assets would be used to enhance domestic production.
Read more:
Two dozen US lawmakers scold Biden administration for Iran prisoner deal
Iran’s Raisi says released assets abroad will be used to enhance domestic production
US has not changed policy on Iran after prisoner deal: Top US diplomat