HomeBusinessSeoul says it paid Iran's delinquent UN dues to restore vote

Seoul says it paid Iran’s delinquent UN dues to restore vote

DUBAI, United Arab Emirates — Using Iranian financial institution funds free of American sanctions, South Korea has paid Iran’s $18 million in delinquent dues owed to the United Nations, Seoul stated Sunday. The step was apparently authorized by Washington to restore Tehran’s suspended voting rights on the world physique.

The South Korean Foreign Ministry stated Seoul had paid the sum utilizing Iranian belongings frozen within the nation after consulting with the United States Treasury – a possible sign of flexibility amid floundering nuclear negotiations.

The ministry stated it anticipated Iran’s voting rights to be restored instantly after their suspension earlier this month for delinquent dues.

Iran’s mission to the United Nations didn’t instantly reply to a request for remark. But Iran state tv’s English-language arm Press TV quoted Iran’s everlasting consultant to the U.N. as confirming that the dues had been paid and Iran’s voting rights would quickly be restored. He didn’t specify how the cash had been paid.

“The Islamic Republic of Iran, as an active member of the United Nations, has always been committed to paying its membership dues on time,” Majid Takht-e Ravanchi stated. He expressed outrage on the U.S. for what he referred to as its “brutal and unilateral sanctions against Iran” which have prevented Tehran from gaining entry to funds to pay the arrears for the previous two years.

The funds had been impounded at Korean banks beneath sanctions imposed by former President Donald Trump after he withdrew the U.S. from Tehran’s landmark nuclear take care of world powers. The U.S. Treasury Department’s Office of Foreign Assets Control should grant a license for these transactions beneath the American banking sanctions imposed on Iran. The Treasury didn’t instantly reply to a request for touch upon the unfrozen funds.

The Biden administration desires to restore the 2015 nuclear deal, which granted Iran sanctions aid in trade for curbs on its nuclear program.

Diplomats at the moment are engaged in delicate negotiations to revive the accord in Vienna, though a breakthrough stays elusive as Iran abandons each limitation the deal imposed on its nuclear enrichment. The nation now enriches a small quantity of to 60% purity – a brief, technical step away from weapons grade ranges – and spins much more superior centrifuges than allowed.

Under the United Nations Charter, a nation that owes the earlier two full years’ value of dues loses its voting rights on the General Assembly.

A letter from Secretary-General Antonio Guterres circulated earlier this month revealed that Iran was amongst a number of delinquent nations on that checklist, which additionally contains Venezuela and Sudan. The General Assembly could make exceptions to the rule, figuring out that some nations face circumstances “beyond the control of the member.”

According to the secretary-general’s letter, Iran wanted to pay a minimal of $18.4 million to restore its voting rights.

Iran additionally misplaced its voting rights in January of final yr, prompting Tehran to lash out on the U.S. for imposing crushing sanctions that froze billions of {dollars} in Iranian funds in banks world wide. Tehran regained voting rights final June after making the minimal fee on its dues.

Iran over the previous few years has pressured Seoul to launch about $7 billion in revenues from oil gross sales that stay frozen in South Korean banks because the Trump administration tightened sanctions on Iran.

The frozen funds cling within the steadiness as diplomats wrestle to revive the nuclear deal. Senior South Korean diplomats together with Choi Jong Kun, the primary vice international minister, flew to Vienna this month to talk about the destiny of the belongings with their Iranian counterparts.

Copyright © 2022 The Washington Times, LLC.

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