Iran regains access to blocked assets: €5.573 billion deposited in Qatari banks

These funds have been successfully deposited into six Iranian bank accounts held in two Qatari banks, Al-Ahli and Dukhan.

“Yesterday, we received an official letter from Qatari authorities confirming the activation of the accounts for six banks. Today, €5,573,492,000 was deposited into the bank accounts,” Farzin said during a press conference, revealing the details of this pivotal development.

The released funds were initially held in South Korean banks, and their transfer to Qatari banks marks a major stride in Iran's ongoing efforts to regain access to its assets.

Farzin shed light on the intricate process, saying: "On August 23 of this year, all inaccessible Iranian funds held in South Korean banks and Bank Melli's Seoul branch were transferred to the Swiss central bank for conversion into euros."

This achievement was possible through the collaboration between Iranian banks and their Qatari counterparts. Six Iranian banks, namely Keshavarzi, Saman, Pasargad, Gardeshgari, Shahr, and Karafarin, opened accounts in the Qatari banks to facilitate the transfer of funds.

Farzin emphasized that all transactions adhered to agreements and were executed by Qatari bank brokers, using the SWIFT system for secure and efficient processing.

Additionally, Iran's grievance against South Korea for denying access to its funds is actively being pursued, with compensation efforts underway. This development is expected to have a significant impact on Iran's financial stability and economic prospects.

The release of these blocked assets represents a noteworthy diplomatic and financial milestone for Iran, showcasing its determination to resolve longstanding disputes and regain control of its frozen funds. (ILKHA)