US Asks S.Korea to Join Efforts to Sanction Iran

The United States is requesting that South Korea join efforts to impose financial sanctions on Iran. 

A South Korean official said U.S. coordinator of North Korean sanctions Robert Einhorn visited the Finance Ministry in Seoul on Tuesday and explained the sanctions the U.S. plans to impose on Iran and asked for Seoul’s cooperation on the matter. 

Meanwhile, an official in the financial sector said the U.S. had already asked the South Korean government two months ago for support on slapping sanctions on Iran, including freezing the assets of the Seoul branch of Iran’s state-owned Bank Mellat. The bank is reportedly a financial resource for Iran’s nuclear development. 

The official added that Seoul is studying measures multilaterally on the U.S. request, taking into consideration Iran’s possible protest and the financial difficulties Korean construction companies and exporters will face in the event Seoul joins the U.S. in imposing sanctions on Iran. 

Last year, the trade volume between South Korea and Iran stood at ten billion dollars. If Seoul independently seeks to sanction Iran, transactions between the two are expected to become difficult.