South Korea Unlocked $7B in Iranian Assets After “Consultation” With Biden Administration

This is the continuing saga of paying Iranian terrorists for their illegal activity, like kidnapping a South Korean oil tanker, for example. South Korea unlocked $7B in Iranian assets after talking to the Biden administration in order to get their ship and crew back after being kidnapped in January. Except for the captain of the ship, of course, they want to keep him.

south korea unlocked

South Korea and Iran have been moving toward trade together recently in spite of threats from Tehran. They were reportedly “uncomfortable” with the Trump sanctions.

The Korea Times, i24 NewsYonhap News, and other outlets speculated as to a possible connection between the release of funds and Iran’s kidnapping of a South Korean oil tanker and its crew from the Persian Gulf last month. Iranian officials repeatedly linked the release of the ship and crew to South Korea unfreezing the $7 billion in frozen oil revenue.

“Early this month, Tehran said it would release the sailors, except for the captain, which coincided with Seoul’s confirmation on the progress in the talks with Washington about using the frozen money for the U.N. dues,” Yonhap noted.

i24 described Iran’s seizure of the South Korean tanker as a “massive gamble” that “may have just paid off.” 

The Jerusalem Post called the $7 billion score “another win for Iran” under the new U.S. administration. Tehran has also been “wringing concessions from Europe, as well as the IAEA [International Atomic Energy Agency],” while simultaneously “using proxies in Iraq and Yemen to attack U.S. partners and allies.”

Iran has been spending fabulous sums on developing new weapons, setting up missile launch sites to threaten the Persian Gulf, enriching uranium, and supporting its terrorist proxies in theaters like Yemen and Iraq, squandering billions that could have been spent on humanitarian supplies with the sanctions imposed by the Trump administration.


South Korea unlocked the money, but before anyone has one of those bleeding heart moments and says ‘but Iran needs humanitarian items such as food, and they promised.’ Remember what has happened in the past. When Obama released funds to Iran in exchange for the Americans held captive, they didn’t use the money for food and humanitarian needs, they used it to advance more terror.

A little history lesson

The Obama administration released $1.7B in CASH to the Iranians, $400 Million of which was the first installment in an agreement to release US prisoners. They claimed that the $400M was “leverage” to use until the Americans left the country. The remaining money was “interest” on funds the US held since the Islamic hardliners took over in the 70s. (CBS)

Last August, the Obama administration admitted that it had secretly arranged a plane delivery of $400 million in cash to Iran. The money was flown into Iran on wooden pallets stacked with Swiss francs, euros and other currencies.

According to a Saudi Arabian newspaper report on April 25th, Hezbollah had received $600 million worth of Iranian aid. The Al-Youm newspaper reported that the aid was transferred almost completely in hard cash, and is being used for the terror group’s institutions and salaries paid to its terrorists and their families.

Yeshiva World News 5-6-2017

South Korea unlocked this money, but there is no reason to think that this $7B release is going to do much to help Iranian citizens either. It will likely be used both in their nuclear bomb plans and their terrorist operations worldwide. Keep in mind also that Al-Qaeda has been finding refuge in Tehran, as we previously reported. Iran is also reportedly seeking frozen assets from Iraq, Japan, and Oman. Bullies need to be smacked down hard, not placated. But it appears that not only South Korea, but the Biden administration are willing to allow the intimidation.

H/T Uncle Sam’s Misguided Children


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Faye Higbee

Faye Higbee is the columnist manager for Uncle Sam's Misguided Children. She has been writing at Conservative Firing Line since 2013 as well. She is also a published author.

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