January 29, 2022
3 mins read

Baghdad to host new Iran-Saudi talks soon

Iran and Saudi Arabia have recently held four rounds of negotiations, brokered by Iraq, over resolving the diplomatic impasse between the two countries, reports Asian Lite Newsdesk

The fifth round of talks between Iran and Saudi Arabia will be held in the Iraqi capital Baghdad to normalise bilateral relations, Iraj Masjedi, Tehran’s Ambassador to Iraq, told local media.

Without specifying the exact date of the talks and the details, Masjedi said on Friday that the meeting will be held “soon”, reports Xinhua news agency

Tehran has sent three diplomats to Saudi Arabia, as the Iranian delegation to the Organization of Islamic Cooperation, to resume their activities in Jeddah after a six-year hiatus.

Iran and Saudi Arabia have recently held four rounds of negotiations, brokered by Iraq, over resolving the diplomatic impasse between the two countries.

Saudi Arabia cut diplomatic ties with Iran in 2016 in protest against the attacks on Saudi diplomatic missions in Iran following the Saudi execution of a Shia cleric.

Recently, Iran-backed Houthi rebels had carried out attacks with missiles and armed drones on the targets in the United Arab Emirates (UAE).

Iran ian Foreign Minister Hossein Amir Abdollahian

Following this, the Saudi-led Coalition has launched air raids on Yemenis targets hosting Houthi rebels.

The Saudi-led Arab coalition has intervened in the Yemeni war since March 2015, aiming to support the Yemeni government led by President Abd Rabbuh Mansour Hadi who was forced into exile after the Houthi rebels took over most northern provinces, including the Yemeni capital of Sanaa in 2014.

Tehran’s frozen assets

Meanwhile, South Korea and Iran plan to hold working-level consultations next month in Seoul to discuss ways to untangle yearslong disputes over Tehran’s assets frozen here under US sanctions, a South Korean news agency quoted an informed source saying.

Bilateral relations remain frayed over $7 billion in Iranian funds locked in two Korean banks under US sanctions, which were reimposed after former President Donald Trump in 2018 withdrew from a 2015 nuclear deal, Yonhap news agency reported.

The thorny issue has drawn renewed attention, with talks to revive the 2015 accord standing at a critical phase, as Iranian officials demand sanctions relief for an agreement.

South Korea’s First Vice Foreign Minister Choi Jong-kun (2nd from L) meets with his Iranian counterpart, Ali Bagheri Kani, in Vienna on Jan. 6, 2021, to discuss the issue of Tehran’s frozen assets under U.S. sanctions, in this photo provided by Seoul’s foreign ministry.(Yonhap/IANS)

Seoul officials say the proposed working groups are expected to go over details of a potential money transfer once sanctions are lifted and also discuss other aspects in the event of a no deal.

“The working groups are expected to mainly discuss details of the payment method of the Iranian assets if the US grants sanctions relief,” the source told Yonhap News on the condition of anonymity.

“They could talk further on the possibility of resuming oil imports from Iran once sanctions are lifted.”

Iran, which sits on the world’s fourth-largest oil reserves, had been a key oil supplier to resource-poor South Korea and in turn imported industrial equipment, household appliances and vehicle parts from Seoul.

South Korea imported $7.8 billion worth of oil from Iran in 2017, but it has stopped Iranian purchases since 2019 due to US sanctions that ban the Islamic republic’s oil exports, according to the data by the Korea International Trade Association.

ALSO READ: Saudi, Thailand agree to restore full diplomatic relations

Previous Story

ICICI Bank UK PLC to facilitate home loans in India for Indian diaspora based in the UK

Next Story

First round of FTA talks ‘productive’: UK and India

Latest from -Top News

Netanyahu: Iran Goals Near

Netanyahu pledged not to let Israel get dragged into a “war of attrition” with Tehran…reports Asian Lite News Israeli Prime Minister Benjamin Netanyahu claimed on Sunday that Israel is “very close” to

Pakistan Snubs US at UN

Ahmad said that Pakistan, in collaboration with its all-weather friend, China and its ally, Russia, was circulating a draft resolution for the Council to adopt….reports Asian Lite News Despite the high-profile lunch

Khamenei Vows Payback

Calling the attacks “a big crime,” Khamenei warned of retaliation….reports Asian Lite News Iran’s Supreme Leader Ayatollah Ali Khamenei on Monday, in his first reaction following the US strikes on Iranian nuclear

US committed great crime: Iran

Iran has now called for an emergency meeting of the UN Security Council and demanded the IAEA Board of Governors address the situation….reports Asian Lite News Iran has strongly condemned the United
Go toTop

Don't Miss

India welcomes Iran-Saudi pact

Iran and Saudi Arabia last week announced to re-establish diplomatic

Fresh EU sanctions target Iran’s morality police

The EU has designated the Iranian Law Enforcement Forces (LEF)