Iran announces agreement with Bahrain to release frozen assets

Tehran has reached an agreement with Manama to establish a joint mechanism for the release of Iran's frozen assets in Bahrain, acting Foreign Minister Ali Bagheri announced on Monday.

Addressing a press conference in Tehran following the 19th Asian Cooperation Dialogue Forum attended by senior officials from 35 countries, Bagheri stated that the member countries shared their views on regional and global developments during the meeting.

Emphasizing that the most important issue is friendship and solidarity among the members, Bagheri said: "We stand with the people of Gaza who are living under very difficult conditions. The members expressed their hatred for the crimes committed by the Zionist regime and demanded an immediate end to the war in Gaza."

He stated that under President Raisi, Iran has improved relations with neighbors and regional countries, including Saudi Arabia, Kuwait, the UAE, and now Bahrain. He said this policy led to resolving regional misunderstandings, strengthening ties with Türkiye, increasing security cooperation, combating terrorism and drug trafficking, securing an agreement with Iraq, and improving relations with Azerbaijan.

Bagheri further emphasized that regional communication and interaction prevent foreign intervention, bringing development and stability.

He said an agreement has been reached Sunday to restore relations with Bahrain after eight years, including efforts to release Iran's frozen assets there.

"We had issues accessing our funds in Bahrain. This was one of the topics discussed with Bahrain's foreign minister last night, and a mechanism was established to resolve it," he said.

Bagheri and Bahrain's Foreign Minister Abdullatif bin Rashid Al Zayani met on Sunday in the capital Tehran.

In a joint statement released later, it was reported that the two agreed to begin discussions on the restoration of diplomatic relations between Tehran and Manama, which were severed eight years ago.