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Iran: Our Frozen Funds Abroad Exceed $100 Billion

June 14, 2023
Iran: Our Frozen Funds Abroad Exceed $100 Billion
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Abbas Kalro, a member of the Iranian Parliament, revealed that more than $100 billion of Iranian funds are frozen outside the country and emphasized the need to take steps to recover them.

According to the Fars News Agency, this statement was made during a meeting in Semnan province (east of Tehran) on Wednesday.

The Iranian parliamentarian added that there is a necessity to improve the management of the country’s internal financial resources, which is considered a significant challenge.

Abbas Kalro also highlighted Iran’s natural resources and the development and growth witnessed in the country, particularly in the field of knowledge-based companies.

Reports from Iran last week disclosed that Iran will soon receive $24 billion from its frozen assets abroad.

Local media mentioned that the released funds include $7 billion from South Korea, in addition to over $10 billion from Iraq.

Furthermore, Tehran will obtain $6.7 billion of its rights from the International Monetary Fund following recent discussions between the Governor of the Central Bank of Iran, Mohammad Reza Farzin, and the Managing Director of the IMF, Kristalina Georgieva.

It is worth noting that in April of last year, Iran announced the release of a significant portion of its frozen assets after reaching a new agreement independent of the nuclear deal.

In May of the same year, the International Monetary Fund published a report indicating a $141 billion increase in Iran’s gross domestic product in 2022, ranking the country 22nd among the world’s largest economies.

Iran has been subject to US sanctions for several years due to its nuclear program. These sanctions restrict its oil exports, freeze its accounts abroad, and target senior officials and legal entities.

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