BICOM
9th April 2021
Reuters report that the South Korean-flagged tanker detained in Iran since January has been released. The Hankuk Chemi and its captain were released after South Korea reportedly made progress in releasing $7bn (£5bn) worth of Iranian funds frozen in South Korean banks due to US sanctions. In February, 20 of the ship’s crew members were released after the South Korean Vice Foreign Minister visited Iran. Officials say that the captain and ship’s release today was unrelated to the frozen funds, though one unidentified official said South Korea has “expressed our firm willingness to resolve the funds issue”. The development comes amid ongoing talks over Iran’s nuclear activities, US sanctions and prospects of reviving the JCPOA nuclear deal.