UPI en Español  |   UPI Asia  |   About UPI  |   My Account
Search:
Go

S. Korea cuts back on Iranian oil imports

|
 
Published: July 16, 2012 at 8:01 AM

SEOUL, July 16 (UPI) -- The South Korean government reported that crude oil imports from Iran since June were down more than 20 percent compared with the previous year.

South Korea for the first six months of the year imported 21 percent less oil -- around 35 million barrels -- from Iran than it did the previous year, reports Bloomberg News, citing customs data.

U.S. Secretary of State Hillary Clinton last month said India, Malaysia, South Korea, South Africa, Sri Lanka, Taiwan and Turkey reduced the amount of crude oil purchased from Iran.

That meant that U.S. sanctions targeting the Iranian energy sector "will not apply to their financial institutions for a potentially renewable period of 180 days," she said in a statement.

Belgium, the Czech Republic, France, Germany, Greece, Italy, Japan, the Netherlands, Poland, Spain and the United Kingdom made similar moves this year.

South Korea wasn't shielded from European sanctions on Iranian oil that went into force July 1.

Sanctions were imposed in response to Iran's nuclear program, which Tehran maintains is for peaceful purposes.

South Korea is the No. 5 oil importer in the world.

Topics: Hillary Clinton
Recommended Stories
© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

Order reprints
Join the conversation
Most Popular Collections
'Star Trek Into Darkness' screening NBC upfronts Met Ball 2013
'Great Gatsby' premieres in New York Spire raised on top of One WTC 2013: Celebrity break ups and divorces
Additional Energy Resources Stories
1 of 15
138th Preakness Stakes in Baltimore, Mayland
View Caption
Race fans enjoy a shot in the infield during the 138th Preakness Stakes at Pimlico Race Course on Mary 18, 2013 in Baltimore, Maryland. Kentucky Derby winner Orb is looking for a Triple Crown possibility with a win today at Pimlico. UPI/Kevin Dietsch
fark
Iowa has gone 358 days without a tornado. Tornadoes ready to put an end to the streak
Mount Pavlof erupts in Alaska. Just the thought makes me drool
The most unromantic proposals of all time
School discontinues Mother's Day and Father's Day because some kids might have two moms or two dads...
"All right, pop quiz. Apartment complex, gunman with one hostage. He's using her for cover; he's...
Your dog is trapped inside that house fire, but can I make you a sales pitch?