The Iran Project - An Iranian Foreign Ministry official says Tehran no longer has any blocked funds in other countries due to US sanctions after frozen assets in banks in South Korea and Iraq were released under an understanding with Washington

Deputy Foreign Minister for Political Affairs Ali Bagheri Kani stated that Iran now has full control over its assets in other countries and can transfer them between foreign banks as it sees fit.

Deputy Foreign Minister for Political Affairs Ali Bagheri Kani said in remarks published on Thursday that Iran now has full control over its assets in other countries and can transfer them between foreign banks by means of its choosing.

Bagheri also mentioned that Iran has chosen to keep some funds in certain countries for trade exchanges or financing purchases.

These remarks come after Iran and the US reached a prisoner exchange deal and secured the release of Iranian funds in South Korea.

Earlier, Iran’s Foreign Ministry spokesman, Nasser Kanani had stated that Tehran has received a guarantee from the US on its commitment to a recent agreement to exchange prisoners and release Iran’s frozen assets abroad.

He also clarified that the talks on unfreezing Iranian assets are not directly linked to negotiations to revive the 2015 nuclear deal but acknowledged that issues can affect each other. The talks to salvage the agreement began in April 2021 and have experienced interruptions due to US indecisiveness and procrastination.