Iran to File Lawsuit against S. Korea Over Financial Claims

On Saturday, the Iranian news agency "Mehr" reported that Iran is set to file a lawsuit against South Korea concerning its financial claims.

According to the agency, Tehran will pursue legal action against Seoul to reclaim its financial demands from South Korea. 

This comes after Iranian President Ebrahim Raisi sent a bill related to the dispute between the Central Bank of Iran and South Korea to the judiciary for review.

The bill was forwarded to the Iranian Parliament Speaker, Mohammad Bagher Ghalibaf, after receiving approval from the Cabinet based on the proposal of the legal deputy to the President.

The preamble of this bill states, "In order to recover the Central Bank of the Islamic Republic of Iran's deposits in South Korean banks and claim compensation for the delay in payment, in line with Article 12 of the Encouragement and Support of Investment Law between the Islamic Republic and the Republic of Korea, and Article 139 of the Constitution of the Islamic Republic, the following bill has been submitted for legal proceedings."

It is worth mentioning that the frozen Iranian funds in South Korean banks amount to 7 billion dollars.