IP- Iran is reportedly considering the collection of interest from South Korean lenders for withholding around $6 billion of Iranian funds under US sanctions. This comes after Seoul released the funds as part of a prisoner swap deal between Tehran and Washington.

Iran PressIran news: According to the report citing Iranian diplomatic sources, Tehran authorities have begun a legal review of seeking interest for the funds that were previously frozen by the Bank of Korea, the Industrial Bank of Korea, and Woori Bank over the past four years or so.

An Iranian government official, who declined to be identified, said South Korean financial institutions unfairly earned interest income due to illegal sanctions by the US.

The official said it was only natural for the lenders to return the interest to the rightful owner.

A Seoul foreign ministry official, meanwhile, said Iran's move was "not in line with the spirit of agreement between the relevant countries."

"All the details related to the transfer of the frozen funds have been carried out based on agreements with the relevant countries, including Iran," Younhap cited as the Seoul official said.


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