The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Revised Japanese textbooks distort wartime forced labor, catching Korea off guard

  • 3

    Actor Yoo Ah-in once again apologizes for alleged drug use

  • 5

    Korea to ease entry rules to boost tourism, domestic spending

  • 7

    Gold price nears all-time high amid financial jitters

  • 9

    Ramsar wetland in Han River cleaned up for protected birdlife

  • 11

    North Korea unveils tactical nuclear warheads

  • 13

    BTS' Jimin tops Spotify's global chart with 'Like Crazy'

  • 15

    Over 1,000 financially vulnerable Koreans apply for new emergency gov't loans

  • 17

    Suspect identified in Nashville school shooting that killed 3 children, 3 staff

  • 19

    Ra Mi-ran, Lee Re to lead fantasy drama 'The Mysterious Candy Store'

  • 2

    Chun Doo-hwan's grandson apprehended at Incheon Int'l Airport over drug use

  • 4

    Clock ticks for China's massive repatriation of N. Korean defectors

  • 6

    'My ID is Gangnam Beauty' to be adapted into live action series in Thailand

  • 8

    BMW launches new XM

  • 10

    Civic groups in Gwangju await meeting with Chun Doo-hwan's grandson

  • 12

    CJ CheilJedang sees chicken as next big seller after frozen dumpling

  • 14

    From IVE to NCT DOJAEJUNG, K-pop hotshots brace for April chart race

  • 16

    2024 budget to focus on tackling low birthrate

  • 18

    INTERVIEWChoi Min-sik, Lee Dong-hwi on creating Korean-style noir with 'Big Bet'

  • 20

    Samsung Pay partners with Hana Financial to issue student IDs

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
Thu, March 30, 2023 | 13:03
Foreign Affairs
Blinken's remarks deepen Korea's Iran dilemma
Posted : 2021-03-11 16:27
Updated : 2021-03-17 10:28
Do Je-hae
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
                                                                                                 U.S. State Secretary Antony Blinken / AP-Yonhap
U.S. State Secretary Antony Blinken / AP-Yonhap

Tanker seizure, frozen asset issues with Iran getting complicated

By Do Je-hae

Washington's negative stance about easing sanctions on Iran, including those covering about $7 billion in Iranian funds frozen in Korean banks, is likely to make it harder for Seoul to resolve the issue of a Korean tanker seized by Tehran, as resolving the financial issue is believed to be a priority in getting it released.

During an appearance at the House Foreign Relations Committee Wednesday, U.S. Secretary of State Antony Blinken dismissed some media reports that part of the funds at the Korean banks could be released. "Unless and until Iran comes back into compliance, they won't be getting that relief and the report you referred to is simply incorrect," Blinken said.

His remarks came amid rising tension between the U.S. and Iran over a nuclear deal and Iran's call for the lifting of sanctions.

Under the circumstances, the remarks from the top U.S. diplomat are seen as aggravating the dilemma faced by Seoul, which has sought to resolve the issue of the frozen assets, one of the biggest obstacles to bilateral relations. Earlier this year, a Korean tanker and its crew members were seized by Tehran.

Currently, the $7 billion from oil sales by Iran are being held in the two banks due to the U.S. sanctions.

The Ministry of Foreign Affairs has tried to resolve the issue with Iran through active diplomacy, with First Vice Minister Choi Jong-kun visiting the country in January.

Foreign Minister Chung Eui-yong also spoke with Iranian Minister of Foreign Affairs Mohammad Javad Zarif, Feb. 24, and underlined Seoul's efforts for progress on outstanding bilateral issues, such as the frozen assets and the release of the Korean vessel and its captain, who is also still being held by Tehran despite the release of his crewmembers.

"Foreign Minister Chung called for the early release of the Korean-flagged vessel Hankuk Chemi and its captain. In response to Foreign Minister Zarif's request for an early resolution of the issue of Iranian funds frozen in Korea, Chung explained that the government was making its best efforts with sincerity," the ministry said in a statement.

In February, Iran announced Tehran and Seoul had reached a deal under which the money would be transferred to its desired destination. In response, Seoul said at the time that it may release part of the funds after getting Washington's agreement.

"If the U.S. does not agree to the release of the funds, there is not much Korea can do since it cannot go against the sanctions," said Shin Beom-chul, director at the Center for Diplomacy and National Security at the Research Institute for Economy and Society in Seoul. "Blinken's remarks present a challenge for Seoul to manage the situation well so that the prolonged freezing of the funds won't further aggravate bilateral relations and negatively impact the ongoing efforts for the release of the Korean ship and its captain."

Leif-Eric Easley, a professor at Ewha University in Seoul said Secretary Blinken's principled approach on the frozen Iranian funds was good news for Korean national interests. "It allows Seoul to resist extortion even while making every reasonable effort to cooperate with Tehran. This also sends a signal to North Korea that international sanctions will be strictly enforced but can be relaxed upon compliance with denuclearization agreements."
Emailjhdo@koreatimes.co.kr Article ListMore articles by this reporter
 
Top 10 Stories
1Korea to ease entry rules to boost tourism, domestic spending Korea to ease entry rules to boost tourism, domestic spending
2Korea moves to shorten COVID-19 isolation period to 5 days Korea moves to shorten COVID-19 isolation period to 5 days
3[INTERVIEW] Can art become stable investment source? INTERVIEWCan art become stable investment source?
4Will dismantling oligopoly result in successful bank industry reform? Will dismantling oligopoly result in successful bank industry reform?
5Generation Z entrepreneurs turn oyster shells into trendy dish soapGeneration Z entrepreneurs turn oyster shells into trendy dish soap
6Fintech, lifestyle products can help Korea grow trade ties with Hong Kong: city's trade promotion chief in Korea Fintech, lifestyle products can help Korea grow trade ties with Hong Kong: city's trade promotion chief in Korea
7Celltrion chairman vows to develop new drugs, initiate M&As Celltrion chairman vows to develop new drugs, initiate M&As
8Terraform Labs co-founder's extradition could be delayed more than 1 month Terraform Labs co-founder's extradition could be delayed more than 1 month
9Ex-journalist to lead NK defector support foundation Ex-journalist to lead NK defector support foundation
10Seoul participates in Asia's biggest smart city expo in Taipei Seoul participates in Asia's biggest smart city expo in Taipei
Top 5 Entertainment News
1'My ID is Gangnam Beauty' to be adapted into live action series in Thailand 'My ID is Gangnam Beauty' to be adapted into live action series in Thailand
2From IVE to NCT DOJAEJUNG, K-pop hotshots brace for April chart race From IVE to NCT DOJAEJUNG, K-pop hotshots brace for April chart race
3[INTERVIEW] Choi Min-sik, Lee Dong-hwi on creating Korean-style noir with 'Big Bet' INTERVIEWChoi Min-sik, Lee Dong-hwi on creating Korean-style noir with 'Big Bet'
4Ra Mi-ran, Lee Re to lead fantasy drama 'The Mysterious Candy Store' Ra Mi-ran, Lee Re to lead fantasy drama 'The Mysterious Candy Store'
5[INTERVIEW] Ahn Jae-hong on playing underdog basketball coach in 'Rebound' INTERVIEWAhn Jae-hong on playing underdog basketball coach in 'Rebound'
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group