Promotion of Payment Using Frozen Oil Export Proceeds in Korea
[Asia Economy New York=Correspondent Baek Jong-min]
Choi Jong-geon, First Vice Minister of Foreign Affairs, visited Tehran on the 10th (local time) to secure the early release of sailors detained in Iran and is taking a commemorative photo with Seyed Abbas Araghchi, Deputy Foreign Minister of Iran. [Photo by Yonhap News]
The United Nations has suspended Iran's voting rights at the UN General Assembly due to unpaid contributions. This comes amid intertwined issues involving the handling of a South Korean-flagged vessel detained in Iran and sanctions on Iran's oil export payments frozen in South Korea, drawing attention to the South Korean government's response.
According to AFP, on the 18th (local time), UN Secretary-General Ant?nio Guterres notified the President of the General Assembly in a letter that the voting rights at the General Assembly of seven countries?namely Iran, Niger, Libya, the Central African Republic, Congo, South Sudan, and Zimbabwe?have been suspended in accordance with the UN Charter due to unpaid contributions. The UN stated that the voting rights of these countries were suspended as of the 13th.
According to AP, in addition to these countries, the voting rights of Somalia, Comoros, and S?o Tom? and Pr?ncipe are also expected to be suspended, bringing the total to ten countries. The Permanent Mission to the UN explained that these three countries had been granted a suspension of voting rights suspension at last year's General Assembly, resulting in seven countries losing their voting rights.
The UN stipulates that if a member state's arrears equal or exceed the contributions for the previous two years, their voting rights at the General Assembly may be restricted.
For Iran to restore its voting rights, it must pay at least $16.25 million (approximately 18 billion KRW) to the UN. In this regard, Saeed Khatibzadeh, spokesperson for Iran's Ministry of Foreign Affairs, proposed to the South Korean government and the UN the use of about $7 billion in oil export payments frozen in South Korea due to U.S. sanctions to cover Iran's UN contributions. The South Korean Ministry of Foreign Affairs stated that it is reviewing Iran's request and is in consultation with the UN.
On the 4th, the Islamic Revolutionary Guard Corps (IRGC) seized the South Korean-flagged vessel Korean Chemiko, citing environmental pollution as the reason. However, it has been viewed as a means to pressure the release of funds frozen in South Korea. Iran has expressed its intention to lift sanctions on these funds ahead of the U.S. administration change and use them for purchasing COVID-19 vaccines.
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