South Korea to restart Iran oil imports in Jan-Feb
The head of South Korea’s biggest oil refiner said on Wednesday that it will restart Iranian oil imports from January or early February 2019.
Iran Press/ Asia news: South Korean oil buyers are expected to restart Iranian oil imports in late January or early February 2019, the head of South Korea’s SK Innovation, which owns South Korea’s biggest oil refiner SK Energy, said on Wednesday.
“As South Korea received a waiver and has been in talks with Iran about the first import volume, it seems (Iranian oil) could be brought in late in January or early February at the earliest,” SK Innovation Chief Executive Officer and President Kim Jun told Reuters on the sidelines of the Consumer Electronics Show (CES) in Las Vegas.
South Korea was the third-biggest buyer of Iranian oil and the largest importer of Iranian condensate before the U.S. sanctions were reimposed in November.
Earlier on January 2, 2018, Iranian president Hassan Rouhani said that US sanctions have failed so far to shut down Iran's oil exports and are unlikely to work in the future either.
US President Donald Trump withdrew in May from a 2015 deal in which his predecessor and five other world powers granted sanctions relief to Iran in return for a freeze on its sensitive nuclear activities.
Under the re-imposed energy sanctions, the Trump administration has threatened to penalize any entity that buys Iranian oil and gas. But Washington was forced to give eight of Iran's biggest energy customers another six months to reduce Iranian energy imports to zero. 104/203