1. The Republic of Korea and the US held a consultation on the Iranian nuclear issue at the US Department of State on February 22.

2. The consultation confirmed that transactions in the non-oil sector through the ROK financial institutions, where Iran’s Central Bank had opened ROK currency (won) accounts, are exempt from sanctions under the US National Defense Authorization Act, as those institutions are more than 50 percent owned by the government.

3. The two countries agreed to consult further on matters related with the implementation of the US National Defense Authorization Act through diplomatic channels.

                                     Spokesperson and Deputy Minister for Public Relations of MOFAT

* unofficial translation