S Korea must clear $7bn-debt to Iran ASAP: MP

MNA – Deputy chairman of the Parliament National Security and Foreign Policy Committee Abbas Moghtadaei urged South Korea to pay Iran’s 7-billion-dollar debt as soon as possible.

Addressing the lawmakers at the open session of the Parliament on Wednesday, he underlined that if South Korea does not fulfill the obligation, the Parliament will start sanctioning the South Korean goods and will call on restriction on Tehran-Seol ties.

Moghtadaei lamented that about 7 billion dollars of Iran’s oil revenues have been blocked by South Korea and the country postpones its payment.

The MP added that the Iranian nation will not forget who did not make its commitment while Iranians were under the toughest conditions.

As reported, Iran may officially sue South Korea as Seoul refrains from paying off its oil debts to Tehran.

In case the diplomatic efforts do not lead to constructive 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.

President Hassan Rouhani has recently issued an order to resort to legal procedures to restore the petrodollars held in South Korea.

Last December, Seoul-based Chosun Ilbo newspaper cited officials as saying that Iran’s Foreign Ministry had called in the South Korean ambassador to demand payment of 7 trillion won ($6 billion) for oil it sold to the Asian country.

Iran is struggling to return the funds frozen by foreign banks amid a shortage of hard currency in the country which has been contending with the coronavirus pandemic over the past months.

Tehran has already given an official warning to Seoul over the frozen assets.

South Korea is citing US sanctions as an excuse for not releasing Iran’s money.