S.Korea March Iran crude imports fall 40 pct
Reuters / Meeyoung Cho
23-Apr-2012 (one comment)

SEOUL, April 23 (Reuters) - South Korea's crude imports from Iran fell 40 percent in March from a year ago to 155,000 barrels per day as the country slashed imports in a bid to secure a waiver from sanctions being applied by the United States.

The move by Seoul to reduce reliance on Iranian crude is also in line with steps taken by other major Asian consumers such as Japan.

Other Middle Easters producers including the world's top exporter Saudi Arabia, the United Arab Emirates and Kuwait have helped South Korea plug the cuts from Tehran, data from the state-run Korea National Oil Corp showed on Monday.

recommended by Fred


Arash Kamangir

Iran will sell its oil over turkey

by Arash Kamangir on

There was an oil embargo over Iraq  back in 90's. The iraqis sold thier oil over turkey using thousands of tanker ( trucks). This was a huge business for turkey ( controlled by turkish army) for many years and that is why they were not supporting U.S invasion of Iraq. I will not surprise if IR uses the same means to sell its oil.