UPDATE 1-S.Korea suspends loading of Iranian oil in July for the first time since 2012 – Sources | Energy and oil

* South Korea's August imports drop to zero, 1st time since August 2012

* Korean government talks with the United States to obtain an exemption from Iranian crude

* Japan plans to buy Iranian oil until September loading (Add detail, chart, bottom)

By Jane Chung and Osamu Tsukimori

SEOUL / TOKYO, July 6 (Reuters) – Korea South will not lift any Iranian crude and condensate in July, stopping all shipments for the first In six years, pressure from the United States to cut off all Iranian oil imports from November has brought down this six-year figure, Friday announced three sources close to the case.

However, Japanese customers continue to import for the time being, several buyers considering buying Iranian oil before loading in September, said a North Asian trade source. who is familiar with the Iranian oil shipping agreements.

South Korea, one of Iran's major customers with China and Japan, intervenes to negotiate an exemption from the restrictions imposed by the United States on the purchase of oil in accordance with a derogation obtained in previous sanctions. .

"The South Korean government lobbied to halt purchases," the source told Iranian maritime arrangements. Two other sources said South Korea canceled shipments of crude oil and condensate from Iran in July because it was not clear whether the country would benefit from an exemption from US sanctions. on the trade of Iran.

Cancellations mean that South Korea will not import Iranian oil in August, the first month of zero imports since August 2012 when South Korean buyers suspended Iranian oil purchases ahead of time. 39, obtain a waiver to import limited quantities of Iranian crude.

The United States declared in May that it was moving away from an international agreement on the Iranian nuclear program. At the end of June, he asked his allies to halt all Iranian oil imports from November and said that waivers were unlikely.

South Korean refiners have since reduced their purchases of Iranian oil and have turned to alternative sources such as US and African crude oil because of high prices in the Middle East and the uncertainty surrounding the trade with Iran.

South Korean buyers of Iranian crude and condensate are SK Energy and SK Incheon Petrochemical, owned by SK Innovation, Hyundai Oilbank Corp and Hanwha Total Petrochemical Co.

Japan, which has significantly reduced imports of Iranian oil in previous Western sanctions. Tehran, which was lifted in 2016, is also seeking an exemption from the latest US sanctions on Iran.

"Japanese buyers have also designated shipments for the month of August, although they have not been allowed to purchase additional crude in addition to the forward contract volumes", indicated the source.

Japanese oil refiners may have to stop charging Iranian oil as of October 1 if the government does not provide another exemption, said the president of the Japan Petroleum Association ( PAJ) last month.