I think I will transfer money to six Iranian banks in Qatar, and
The release of the detained American is likely to take longer, and Netanyahu has criticized the interest as “to be used for terrorism.”Iran has converted five Americans held in its prisons into house arrest under an agreement with the United States to exchange prisoners. Iran has decided to finally release them when its frozen assets in South Korea are released, providing an opportunity for the relationship between South Korea and Iran to normalize in four years and three months. The photo shows the daughter of Morad Tahbaz, an Iranian, U.S. and British triple national detained in Iran, demonstrated in front of the Commonwealth Development Office (FCDO) of the British Foreign Ministry on April 13 last year to demand her father’s release.After former U.S. President Donald Trump broke the nuclear agreement with Iran in 2018 and restored sanctions, all Iranian funds that had been frozen in South Korea for years were lifted.Mohammad Reza Farzhin, president of Iran’s central bank, explained on social media on the 12th (local time) the process of lifting $7 billion in Iranian funds tied to Korea. Iranian funds were in accounts that were opened and used at banks in Korea in connection with oil sales.Iranian funds have been deposited in various Korean banks for four years and three months while being converted into Korean money, and no interest has been paid. In the meantime, as the value of the won has fallen, the value of the amount has decreased by about $1 billion, and the actual amount transferred to Iran is $6 billion. “After the full release of the frozen funds, we converted them into euros, and the exchange fees were paid by third countries,” Farzhin said. “The money has been transferred to six Iranian bank accounts in Qatar.”Farzhin added that the money will be used to select items that are not subject to sanctions through an inter-bank payment system and import necessary supplies, and all Iranian funds frozen outside of Korea will soon be lifted.The New York Times (NYT) said it had lifted the price of oil sales in exchange for the release of five Iranian-American dual-national prisoners who had been detained after more than two years of quiet negotiations. The White House explained on the 11th that there was prior cooperation with the South Korean government regarding the measure. “We have worked extensively with South Korea on this issue,” said John Kirby, strategic communications coordinator at the National Security Council.
According to the U.S. State Department, the three arrested on espionage charges were Siamak Namazi, Emad Shargi and Morad Tabaz, and two others who did not give their names were also locked up. One of the anonymous Americans is a scientist, and the other is a businessman.Iranian President Ebrahim Raisi announced on the 11th that the Iranian government will immediately release U.S. prisoners in Iranian prisons if they release Iranians detained in the U.S. and lift Iranian assets frozen in South Korea. Iranian media described the negotiations as “a victory for the conservative Raisi administration and honorable diplomacy.”Americans known to be released from prison and under house arrest can leave Iran when money arrives at a Qatar bank account, which is expected to take another four to six weeks due to the complexity of procedures related to permits and sanctions relief documents needed to move large sums to Iran.Israeli Prime Minister Benjamin Netanyahu pointed out in a statement on the night that “an agreement without dismantling nuclear infrastructure cannot stop Iran’s nuclear program, and it only provides money to go to Iranian-backed terrorist groups.” Israel, the only unofficial nuclear power in the Middle East, opposes Iran’s nuclear armament and intends to block it with force.
JENNIFER KIM
US ASIA JOURNAL
