South Korea Resumes Iranian Oil Imports
By Meeyoung Cho
(Reuters) – South Korea is set to resume Iranian oil imports in October after crude cargoes were halted by EU sanctions in the previous two months, with shipments transported under Iranian insurance cover to avoid sanctions targeting Tehran’s nuclear program.
The north Asian country’s overall crude oil imports fell 2.8 percent in September from a year ago to 78.36 million barrels, or 2.6 million barrels per day (bpd), data from the state-run Korea National Oil Corp showed on Monday.
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