South Korea used Tehran’s own frozen assets to pay off its debt to the global organization
Majid Takht Ravanchi, Iran’s ambassador and permanent representative to the UN, confirmed on Sunday that Iran has earned back its voting rights after its membership fees were paid.
On Monday, the suspended voting rights will be reinstated. South Korea paid $18 million with Iranian assets. This was due to US sanctions. According to AFP, there are currently more than $7 billion worth of Iranian oil shipment payments that have been frozen by two South Korean banks.
Seoul’s finance ministry also announced the payment had been in a Sunday statement following Tehran requesting last week that the frozen funds be used to cover the membership costs.
Iran’s voting rights had been suspended earlier this month, along with multiple other countries, over unpaid membership dues. Iran claimed that US sanctions made it hard for them to pay UN payments. They even had their voting rights taken away last year. Iran claimed that money from South Korea has been held. “hostage,” while Seoul would not confirm how much of the $7 billion remains after this week’s UN payment.
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