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Home In Brief

Iran urges Japan to release billions in blocked funds amid US sanctions

by  Reuters and ILH Staff
Published on  08-23-2021 08:01
Last modified: 08-23-2021 10:02
Iran urges Japan to release billions in blocked funds amid US sanctions

Iran's Foreign Minister Mohammad Javad Zarif and Japanese Foreign Minister Toshimitsu Motegi ​elbows during a meeting in Tehran, Aug. 22, 2021

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Iran's President Ebrahim Raisi called on Japan to release Iranian funds frozen in the country because of US sanctions, Iranian state TV reported after the president met on Sunday with the visiting Japanese foreign minister, reports Reuters.

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Iran has been unable to obtain tens of billions of dollars of its assets mainly from exports of oil and gas in foreign banks, including $3 billion of its funds in Japan, due to US sanctions on its banking and energy sectors. The sanctions were reimposed in 2018 after Washington abandoned Tehran's 2015 nuclear deal with six world powers.

"The improvement of ties with Japan is of great importance for Iran … Any delay in unblocking Iranian assets in Japanese banks is not justified," Raisi said in his meeting with Toshimitsu Motegi, who arrived in Tehran late on Sunday for a two-day visit.

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