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$7 Billion in Frozen Assets at Heart of Dispute between Iran, South Korea

Man wearing a face mask walks past a mural of Iran's national flag in Tehran, Iran, March 4, 2020. (AFP)
Man wearing a face mask walks past a mural of Iran's national flag in Tehran, Iran, March 4, 2020. (AFP)
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$7 Billion in Frozen Assets at Heart of Dispute between Iran, South Korea

Man wearing a face mask walks past a mural of Iran's national flag in Tehran, Iran, March 4, 2020. (AFP)
Man wearing a face mask walks past a mural of Iran's national flag in Tehran, Iran, March 4, 2020. (AFP)

Iran's ambassador to Seoul was summoned to the South Korean Foreign Ministry on Tuesday to lodge an official protest over reports that Tehran is contemplating legal action against Seoul over the freezing of Iranian assets.

An estimated $7 billion in Iranian funds are presently being held in two South Korean banks, although the assets have been frozen since September 2019, when a waiver granted by the United States for imports of Iranian oil expired.

Iranian Foreign Ministry Spokesman Seyed Abbas Mousavi on Sunday warned of legal action in the International Court of Justice if Korea continued to refuse to pay off the money.

Mousavi also likened ties between Washington and Seoul to a "master-servant relationship" and said this was the reason Seoul was afraid of violating US sanctions on Iran, reported the German news agency.

"The official in charge called in the ambassador and expressed regrets over the inappropriate remarks," Kim In-chul, the ministry's spokesperson, told a regular press briefing, reported Yonhap news agency. "The Iranian side called for understanding and stressed that it was not the position of the Iranian government."

The funds frozen in South Korean banks were being used to pay for oil imports from Iran to South Korea and the export of goods to Iran. The payment mechanism between the two countries came to a halt when Washington, which is locked in a dispute over Tehran's nuclear program, ended the waiver granted on Iranian oil exports to South Korea.

Iranian President Hassan Rouhani on June 14 ordered the governor of the central bank, Abdolnasser Hemmati, to adopt "firm measures," including legal action, to force South Korea to release the funds.

South Korea has stopped buying Iranian oil since May 2019, when the United States stopped issuing the exemptions.

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World

Russia Evacuates 198 Workers from Iran Nuclear Plant Amid Airstrike

Rosatom State Atomic Energy Corporation Director General Alexey Likhachev arrives to attend the talks between Russian President Vladimir Putin and Armenian Prime Minister Nikol Pashinyan at the Kremlin in Moscow, Russia, 01 April 2026. (EPA/Pavel Bednyakov/AP Pool)
Rosatom State Atomic Energy Corporation Director General Alexey Likhachev arrives to attend the talks between Russian President Vladimir Putin and Armenian Prime Minister Nikol Pashinyan at the Kremlin in Moscow, Russia, 01 April 2026. (EPA/Pavel Bednyakov/AP Pool)
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Russia Evacuates 198 Workers from Iran Nuclear Plant Amid Airstrike

Rosatom State Atomic Energy Corporation Director General Alexey Likhachev arrives to attend the talks between Russian President Vladimir Putin and Armenian Prime Minister Nikol Pashinyan at the Kremlin in Moscow, Russia, 01 April 2026. (EPA/Pavel Bednyakov/AP Pool)
Rosatom State Atomic Energy Corporation Director General Alexey Likhachev arrives to attend the talks between Russian President Vladimir Putin and Armenian Prime Minister Nikol Pashinyan at the Kremlin in Moscow, Russia, 01 April 2026. (EPA/Pavel Bednyakov/AP Pool)

Russia started a planned evacuation of 198 workers from Iran's Bushehr atomic plant shortly after a US-Israeli projectile hit near the facility, Russian state media said on Saturday.

This was a third evacuation from the facility in southern Iran on the Gulf coast, which was built with Moscow's help, with about 100 Russian staff remaining there by now.

The area around Bushehr has been struck four times during this war. The latest attack on Saturday saw one person -- a guard at the facility -- killed, but did not damage the plant itself, according to Iranian state media.

"As planned, we began the main phase of the evacuation today," Russia's nuclear agency Rosatom head Alexey Likhachev was quoted as saying by Russia's TASS news agency.

"About 20 minutes after that ill-fated strike, buses set off from Bushehr station towards the Iranian-Armenian border (with) 198 people, to be precise -- this is the largest evacuation," he added.

Likhachev also said that Russia informed the US and Israel about the evacuation.

"The likelihood of a risk of damage or a potential nuclear incident is, unfortunately, only increasing, as has been confirmed by this morning's events," the Rosatom CEO said.

The agency plans to keep only a skeleton staff at Bushehr amid the threat of further strikes.

The Russian foreign ministry slammed the "evil" US-Israeli attack and urged a cessation of hostilities on Iranian nuclear facilities immediately.

World

Erdogan Says Middle East War Has Caused ‘Geostrategic Impasse’

This handout photograph taken and released by the Turkish presidential press service on April 4, 2026, shows Türkiye's President Recep Tayyip Erdogan (R) welcoming and shaking hands Ukraine's President Volodymyr Zelensky (L) upon arrival for a bilateral meeting on security at Dolmabahce Presidential Office, in Istanbul. (Turkish Presidential Press Service / AFP)
This handout photograph taken and released by the Turkish presidential press service on April 4, 2026, shows Türkiye's President Recep Tayyip Erdogan (R) welcoming and shaking hands Ukraine's President Volodymyr Zelensky (L) upon arrival for a bilateral meeting on security at Dolmabahce Presidential Office, in Istanbul. (Turkish Presidential Press Service / AFP)
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Erdogan Says Middle East War Has Caused ‘Geostrategic Impasse’

This handout photograph taken and released by the Turkish presidential press service on April 4, 2026, shows Türkiye's President Recep Tayyip Erdogan (R) welcoming and shaking hands Ukraine's President Volodymyr Zelensky (L) upon arrival for a bilateral meeting on security at Dolmabahce Presidential Office, in Istanbul. (Turkish Presidential Press Service / AFP)
This handout photograph taken and released by the Turkish presidential press service on April 4, 2026, shows Türkiye's President Recep Tayyip Erdogan (R) welcoming and shaking hands Ukraine's President Volodymyr Zelensky (L) upon arrival for a bilateral meeting on security at Dolmabahce Presidential Office, in Istanbul. (Turkish Presidential Press Service / AFP)

Türkiye's President Recep Tayyip Erdogan said the war in the Middle East had led to a "geostrategic impasse", during a telephone conversation with NATO chief Mark Rutte, his office said Saturday.

"President Erdogan said the process started by the intervention against Iran had led to a geostrategic impasse and that the international community had to redouble its efforts to bring an end to this war," said the statement.

Türkiye has attempted to mediate an end to the hostilities, notably through negotiations conducted with Pakistan and Egypt.

Erdogan said his country was also continuing efforts "to reach a peaceful outcome" to the conflict between Russia and Ukraine.

Ukrainian President Volodymyr Zelensky arrived in Istanbul Saturday for talks with Erdogan.

A senior Ukrainian official told AFP that the talks would not only be about drone interceptors but also about security cooperation in general.

The Turkish presidency said on X that the talks would focus "efforts towards a ceasefire and a lasting solution."

World

Several Injured in Israel by Iran Missile Fire

A picture shows the damage at a factory that got hit by a missile in Petah Tikva, east of Tel Aviv, on April 3, 2026. (AFP)
A picture shows the damage at a factory that got hit by a missile in Petah Tikva, east of Tel Aviv, on April 3, 2026. (AFP)
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Several Injured in Israel by Iran Missile Fire

A picture shows the damage at a factory that got hit by a missile in Petah Tikva, east of Tel Aviv, on April 3, 2026. (AFP)
A picture shows the damage at a factory that got hit by a missile in Petah Tikva, east of Tel Aviv, on April 3, 2026. (AFP)

Israeli emergency services said its crew treated five people who were injured Saturday in Tel Aviv and surrounding areas after Iran fired several rounds of missiles toward Israel.

Since midnight, seven waves of Iranian missiles have been launched towards Israel, according to the Israeli military.

Israel's Magen David Adom emergency services said a 45-year-old man was treated for minor injuries from glass shrapnel in the central city of Bnei Brak and taken to hospital.

As the day progressed, rescue teams said they had treated three additional casualties -- two men in their 20s hit by glass fragments and one injured by blast.

A 52-year-old man "lightly injured by the blast wave" was also transferred to a hospital in Ramat Gan, in central Israel, the emergency service said.

In a residential neighborhood of Ramat Gan, AFP images showed the top floor of a house completely blown out, exposing its gutted interior, with a crushed bookcase and an exercise bike amid the debris.

Numerous impact marks were visible on the walls.

Nearby, another home was largely destroyed, stripped of its outer walls, according to AFP photographs.

"All this is from shrapnel," Joy Frankel, a social worker told AFP near one of the impacted sites.

According to several local media outlets, including The Times of Israel, a cluster munition missile fired from Iran on Saturday morning landed near the Kirya military base in Tel Aviv, not far from the defense ministry.

The military said its air defenses were working to down missiles fired from Iran, each a time it announced incoming projectiles.

Since February 28, the United States and Israel have conducted joint strikes against Iran, prompting the Tehran to retaliate with daily missile barrages targeting Israel and several neighboring countries across the region.