Iran Has No Frozen Assets in China

Iran has no frozen assets in China and the two countries maintain logical relations, according to a senior diplomat. 
“Iran has resources in China, which it uses to supply its needs and this is different from the money blocked in Japan, Iraq or South Korea for instance,” Saeed Khatibzadeh said at a regular press briefing on Monday, ISNA reported. 
He made the statement in response to rumors that Iranian assets have been frozen in China as a result of sanctions imposed by the United States. 
Khatibzadeh, however, said Iran has assets in South Korea amounting to several billion dollars and negotiations to release the money or use them for the purchase of medicine and medicinal components are moving slowly.
“We hope the Korean government would fulfill its commitments soon. The progress is insignificant and unacceptable to us,” he said. 
Iran also has assets blocked in Japan, which Foreign Minister Mohammad Javad Zarif recently discussed in a phone conversation with his Japanese counterpart, Toshimitsu Motegi. 
“The importance of Iran’s access to its financial resources was underlined in this phone conversation and we hope the Japanese side would carry out its duties based on international rules and regulations,” Khatibzadeh said. 
Asked about Iraqi arrears, the diplomat said the recent visit to Iraq by the chief of the Central Bank of Iran was successful, but referred reporters to the CBI for further details. 
Abdolnasser Hemmati made a one-day trip to Baghdad last week, during which the two sides agreed on the mechanism for unfreezing the Iranian assets.  
Based on the agreement, Iran will use the freed assets to import basic goods, according to the CBI governor.
The US has imposed tough sanctions on Iran since its withdrawal from the 2015 nuclear deal two years ago. In a latest move, it targeted 18 banks to further choke off Iranian revenues and increase economic pressure.