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You see the stock market – South Korean oil imports from Iran fall to the lowest level since January 2015
Posted by: Paris News
South Korean imports of Iranian oil dropped 40.3% in June from the previous year, the lowest level since January 2015 as buyers reduced their purchases before sanctions were reinstated . South Korea, one of Iran's largest oil customers, imported 686,849 tonnes of Iranian crude in June, or 167,820 barrels per day, compared to 1.15 million tonnes in June 2017, or 9.5 %. For May.
In the first half of the year, South Korean imports of Iranian crude dropped by 33.9% compared to the same period last year to 6.13 million tons, or 248,367 barrels per day, according to the data.
The decline came after the administration of US President Donald Trump announced that she would pull out of the global nuclear deal and reinstate tough economic sanctions against Tehran.
Since then, Seoul has been conducting negotiations to obtain an exception from the United States in order to avoid any negative effect of stopping imports of Iranian crude. South Korean imports of Iranian crude oil could be completely halted for the first time in six years in August, according to informed sources.
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