Abdolnaser Hemmati, the head of the Central Bank of Iran, said the actions of banks in South Korea were preventing Iran from using the money to buy foods and medicines, trade that’s exempt from US sanctions. Iran could launch legal action to gain access to the funds, he said, without naming the lenders in question. Virus ResurgentIran announced earlier this month that it had received medicines valued at $500,000 from South Korea after two years of negotiations. It also said South Korea was about $7 billion in arrears for oil exported before the Trump administration last year reimposed penalties on Iran’s crude sales. This month, South Korea plans to ship Covid-19 test kits worth $2 million, it said.

Source: Hindustan Times June 10, 2020 04:46 UTC