Release of Blocked Iranian Funds in South Korea Underway: Foreign Ministry

The Iranian Foreign Ministry issued a statement on Thursday, responding to widespread reports that a prisoner exchange deal between Iran and the US includes the release of these funds.

"Iran has received the necessary guarantee for the United States' commitment to its obligations in this regard," stated the release.

The ministry emphasized that releasing the funds has consistently been on its agenda, asserting that these funds were "illegally blocked" under the pretext of "overseas banks' concerns about America's oppressive sanctions."

Determining the specific utilization of the unfrozen funds is entrusted to "the Islamic Republic and competent Iranian authorities," the statement outlined.

Reports indicate that the funds' release forms part of a prisoner exchange agreement between Tehran and Washington. This arrangement involves the mutual handover of prisoners by both sides.

The statement further disclosed that, along with pursuing the unfreezing of funds, the ministry has been actively working to secure the release of Iranian prisoners. This effort is described as an integral part of the ministry's "inherent duties."

These prisoners were apprehended and detained in various American correctional facilities "illegally and under the vain pretext of [their] bypassing of the US's oppressive sanctions," the statement asserted.

Highlighting the imminent nature of the prisoner release, the statement indicated that the identified individuals slated for release by the US remain within the Islamic Republic.

However, prevailing reports suggest that the prisoners' release is contingent upon the transfer of Iranian funds to accounts designated by Iran.

Iranian Deputy Foreign Minister Ali Bagheri-Kani confirmed the ongoing fund release process in a tweet on Thursday. He further elaborated that the impending liberation of Iranians held by the US would occur "within the same framework."