Iran may sue S. Korea for unpaid debts: Spokesman

Tasnim – Iran’s Foreign Ministry spokesman said Tehran may lodge a complaint against South Korea in case Seoul refuses to pay off its oil debts after all diplomatic efforts.

Speaking to Tasnim in Iran’s northwestern city of Ardabil, Seyed Abbas Mousavi said if diplomacy does not yield results and South Korea continues to obey the US’ policies, Iran will summon South Korea’s ambassador to Tehran and force Seoul to pay off its debts through international tribunals.

Highlighting the Foreign Ministry’s efforts to unfreeze the Iranian assets blocked by South Korea, Mousavi said President Hassan Rouhani has recently issued an order to resort to legal procedures to restore the petrodollars held in South Korea.

He also denounced the illegal and unilateral US sanctions against Iran, saying the “master-servant relationship” between Washington and Seoul is an issue relating to them, but South Korea “must be sincere in the bargain with Iran and honor its commitments.”

In June, Hossein Tanhaee, the chairman of Iran and South Korea’s joint chamber of commerce told Borna news agency that Iran’s frozen assets in South Korea were between $6.5 billion and $9 billion.

Tanhaee added that not only Korean banks refuse to release Iran’s money, some of them have also demanded commission and maintenance fees for Iran’s accounts.