An Iranian pedestrian wearing protective mask amid the COVID-19 pandemic, waits to cross the Azadi street in the capital Tehran on April 20, 2021.
(ATTA KENARE / AFP)
TEHRAN – The Republic of Korea (ROK) has released a small portion of Iranian funds in its banks for its purchase of medicine and vaccine, Press TV reported Wednesday, quoting a senior Iranian businessman.
"Only US$30 million of Iranian funds in South Korea have been released for purchase of coronavirus vaccines and other medications," Hossein Tanhayi, head of Iran-South Korea Joint Chamber of Commerce, said on Wednesday.
READ MORE: Iran calls on South Korea to release frozen funds
In February, the ROK agreed to help release at least 1 billion dollars out of the around 7 billion dollars of funds that have remained blocked in two ROK's banks since 2018, said Tanhayi.
"However, the agreement has not been implemented yet," he added.
ALSO READ: Iran urges ROK to unfreeze bank assets as soon as possible
Iran has announced that ROK was in arrears with payment of about US$7 billion for oil from Iran, which have been frozen in the ROK's banks because of US pressures of sanctioning Iran.