US Approves Release of Frozen Iran's Assets in Iraq

Published March 7th, 2021 - 11:30 GMT
US Approves Release of Frozen Iran's Assets in Iraq
Last month, Iran also held talks to release its frozen assets in South Korea and Japan. (Shutterstock)
Highlights
South Korea and Iran have agreed a way forward that could see billions of dollars of frozen oil money unblocked, amounting to $7 billion.
Secretary-General of the Iran - Iraq Joint Chamber of Commerce Hamid Hosseini revealed on Friday that the US has agreed to release frozen Iranian assets in Iraq.

"After the recent visit of the Iraqi Foreign Minister to Iran, the issue of releasing Iranian resources came to an end and Iraqi officials announced that some of these resources were released through various banks."

In remarks on Twitter, he cited Iraqi sources to confirm that Washington had agreed to release Iranian resources at the Trade Bank of Iraq.

"Several transactions have taken place," according to Hosseini.

Earlier, Iraqi Foreign Minister Fuad Hussein informed secretary of Iran's Supreme National Security Council Ali Shamkhan that efforts were being exerted to repay debts to Iran "soon."

Last month, Iran also held talks to release its frozen assets in South Korea and Japan.

South Korea and Iran have agreed a way forward that could see billions of dollars of frozen oil money unblocked, amounting to $7 billion. However, Seoul said it was seeking Washington's green light.


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