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☆ Iran's Raisi urges Japan to release frozen funds, then wavers
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +1 min

Iranian President Ebrahim Raisi attends a joint press conference with Zimbabwean President Emmerson Mnangagwa (not pictured) at the State House in Harare, Zimbabwe, on July 13, 2023. "Japan should act independently from the U.S. by releasing our blocked funds," Raisi said when asked by a Japanese reporter about $1.5 billion of blocked funds in Japan. "I must clarify that our Central Bank earlier said we only had unjustly frozen funds in South Korea. All other assets abroad are at the disposal of Iran's Central Bank," Raisi said. Tehran and Washington have reached an agreement in which five U.S. citizens held in Iran will be freed in exchange for $6 billion of Iranian assets frozen in South Korea.

Persons: Ebrahim Raisi, Emmerson Mnangagwa, Mohammad Javad Ostad, Raisi, Tehran's, Andrew Cawthorne, Nick Macfie Organizations: Zimbabwean, State House, Iran's, West Asia News Agency, REUTERS, Rights, Central Bank, Iran's Central Bank, U.S, Dubai Newsroom, Thomson Locations: Harare, Zimbabwe, Japan, Washington, South Korea, U.S, Tehran, Iran, Qatar

☆ Iran says unblocked S.Korea funds to be used for 'non-sanctioned goods'
▼ + stars: | 2023-08-12 | by ( ) www.reuters.com time to read: +1 min

The sign of the Central Bank of the Islamic Republic of Iran is seen in Tehran, Iran January 25, 2023. Majid Asgaripour/WANA (West Asia News Agency)/Handout via REUTERS/File PhotoAug 12 (Reuters) - Iran's central bank chief said on Saturday that all of Iran's frozen funds in South Korea had been unblocked and would be used for "non-sanctioned goods". White House spokesperson John Kirby said Iran could only access the funds "to buy food, medicine, medical equipment that would not have a dual military use." The five Americans will be allowed to leave Iran once the funds are unfrozen, a source familiar with the matter told Reuters. He added that the costs of converting the funds from South Korea's won currency to euros would be accepted by the "third country" where the money would be deposited to buy "non-sanctioned goods".

Persons: Majid Asgaripour, Mohammad Reza Farzin's, John Kirby, Farzin, Helen Popper Our Organizations: Central Bank of, West Asia News Agency, REUTERS, Reuters, South Korea's, Dubai, Thomson Locations: Islamic Republic of Iran, Tehran, Iran, South Korea, Washington, Tehran ., Qatar

☆ World Court rules U.S. was wrong to freeze Iranian assets
▼ + stars: | 2023-03-30 | by ( Stephanie Van Den Berg | ) www.reuters.com time to read: +2 min

However, in a blow for Tehran, the World Court said it did not have jurisdiction over $1.75 billion in frozen assets from Iran's central bank, by far the largest amount claimed back by Iran. The ruling comes amid heightened tensions between the United States and Iran after tit-for-tat strikes between Iran-backed forces and U.S. personnel in Syria last week. The case before the ICJ, also known as the World Court, was initially brought by Tehran against Washington in 2016 for allegedly breaching a 1955 friendship treaty by allowing U.S. courts to freeze assets of Iranian companies. The rulings of the ICJ, the United Nations' top court, are binding, but it has no means of enforcing them. The United States and Iran are among a handful of countries to have disregarded its decisions in the past.

March 22 (Reuters) - A federal judge in New York ordered Iran's central bank and a European intermediary on Wednesday to pay out $1.68 billion to family members of troops killed in the 1983 car bombing of the U.S. Marine Corps barracks in Lebanon. Victims and their families won a $2.65 billion judgment against Iran in federal court in 2007 over the attack. Six years later, they sought to seize bond proceeds allegedly owned by Bank Markazi and processed by Clearstream to partially satisfy the court judgment. Bank Markazi has argued that the lawsuit was not allowed under the Foreign Sovereign Immunities Act (FSIA), which generally shields foreign governments from liability in U.S. courts. A Luxembourg court in 2021 ordered Clearstream not to move the funds until a court in that country recognizes the U.S. ruling.

☆ Iran, Russia link banking systems amid Western sanction
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +2 min

DUBAI, Jan 30 (Reuters) - Iran and Russia have connected their interbank communication and transfer systems to help boost trade and financial transactions, a senior Iranian official said on Monday, as both Tehran and Moscow are chafing under Western sanctions. Similar limitations have been slapped on some Russian banks since Moscow's invasion of Ukraine last year. "Iranian banks no longer need to use SWIFT ... with Russian banks, which can be for the opening of Letters of Credit and transfers or warranties," Deputy Governor of Iran's Central Bank, Mohsen Karimi, told the semi-official Fars news agency. Iran's Central Bank chief Mohammad Farzin welcomed the move. "The financial channel between Iran and the world is being repaired," he tweeted.

☆ Iranian currency falls to record low amid isolation and sanctions
▼ + stars: | 2023-01-21 | by ( ) www.reuters.com time to read: +3 min

DUBAI, Jan 21 (Reuters) - Iran's troubled currency fell to a record low against the U.S. dollar on Saturday amid the country's increasing isolation and possible Europe Union sanctions against Tehran's Revolutionary Guards or some of its members. Ties between the EU and Tehran have deteriorated in recent months as efforts to revive nuclear talks have stalled. The EU is discussing a fourth round of sanctions against Iran and diplomatic sources have said members of the Revolutionary Guards will be added to the bloc's sanctions list next week. But some EU member states want to go further and classify the Guards as a whole as a terrorist organisation. The European Parliament called on Wednesday for the EU to list Iran's Guards as a terrorist group, blaming the powerful force for the repression of protesters and the supply of drones to Russia.

☆ Iran and Britain's history of strained relations
▼ + stars: | 2023-01-14 | by ( ) www.reuters.com time to read: +5 min

DUBAI, Jan 14 (Reuters) - British-Iranian relations, which have been strained for decades, were back in the spotlight after Iranian authorities executed British-Iranian national Alireza Akbari for spying, charges he had denied. 1988 - Britain restores full diplomatic relations with Iran. 1994 - Britain accuses Iran of contacts with the outlawed Irish Republican Army, a charge Iran denies but relations worsen. 1999 - Iran says relations between Tehran and Britain have been upgraded to ambassadorial level. The same year, Iran accuses Britain of being behind bombings that killed six people in Iran.

☆ Iran central bank governor blames protests for currency's fall
▼ + stars: | 2022-12-17 | by ( ) www.reuters.com time to read: +3 min

"To make adjustments in the (foreign exchange) market, we in the Central Bank will act both as a market-maker and as a hard currency policymaker," Salehabadi told state TV. "Whichever hard currency is more in demand, we will offer that in the market." The dollar sold for as much as 395,600 rials on the unofficial market, up from 386,800 on Friday, according to foreign exchange site Bonbast.com. The rial has lost nearly 20% of its value since the nationwide protests erupted three months ago. According to the activist HRANA news agency, 495 protesters had been killed as of Friday, including 68 minors.

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