After President Rouhani announced that Iran will follow up on Iran's frozen money in South Korean banks through international channels, the chairman of Iran and South Korea Chamber of Commerce, Hossein Tanhai, announced that the amount of frozen money is between $6.5 to $9 billion.

Tanhai added: "The South Korean officials were supposed to release $50 million of it, but they broke their promise and said we can pay some money as gift, but they didn’t go through with that either.”

He went on to say that some Korean Banks have announced that they also demand their fees for holding the money from Iran.

On Friday, President Rouhani ordered the President of the Central Bank to cooperate with the Ministry of Foreign Affairs about Iran’s frozen money in South Korea through diplomatic and legal and international channels. He also stated that South Korea’s refusal to allow Iran to use its financial resources in that country to purchase goods and medicine is unacceptable.

The President of Iran’s Central Bank previously in an interview with Bloomberg threatened to take legal actions in accordance with international laws if the problem is not resolved.

South Korea has announced that it has received permission from the U.S and other countries to send humanitarian aid to Iran. Iran has also announced that it has received $500 thousand worth of medicine and medical equipment.

Iran’s central bank has brought lawsuits in Europe against companies that have held Iran’s money by the order of American courts.