South Korea pays Iran’s UN dues with frozen assets

Seoul: South Korea has used $18 million of frozen Iranian assets to pay Tehran’s dues to the UN, Seoul said on Sunday, in a move to immediately restore the country’s voting rights.

The payment was made Friday in cooperation with the United States and the UN after Iran made an "emergency request" asking South Korea to pay the dues, Seoul’s finance ministry said in a statement.

Iran has more than $7 billion in funds for oil shipments frozen at two South Korean banks due to US sanctions. "Iran’s voting right at the UN General Assembly is expected to be immediately restored with the payment," the ministry said. Tehran’s mission to the UN told AFP the payment had been "completed".