Iranian assets that had been frozen in South Korea were transferred to Switzerland's central bank last week for exchange and transfer to Iran, South Korean media reported on August 21. The Swiss National Bank plans to exchange its $6 billion holdings in won for dollars and then euros in the currency market, Yonhap Infomax reported. Iran and the United States recently reached an agreement in which five U.S. citizens detained in Iran would be released while Iranian assets in South Korea would be unfrozen and sent to an account in Qatar that Iran could access. To read the original story by Reuters, click here.
Frozen Iranian Assets Reportedly Transferred To Swiss Central Bank
The Swiss National Bank building in Zurich (file photo)