South Korea Doubles Oil Imports from Iran in January: Report
TEHRAN (Tasnim) – Iran’s crude exports to South Korea more than doubled in January compared to the same period last year.
According to preliminary data from the Korea Customs Service, South Korea imported 1.8 million tons of crude oil, 13.2 million barrels, from Iran in January, up 108.8 percent from a year ago, Reuters reported.
Seoul imported a total of 12.4 million tons of crude last month. In January 2016, South Korean refineries shipped in 10.9 million tons, the data showed.
Iran had been a major exporter of crude to South Korea, but anti-Tehran sanctions had reduced bilateral trade between the two nations.
This changed after Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) reached a nuclear deal in July 2015 and started implementing it on January 16.
The comprehensive nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA), terminated all nuclear-related sanctions imposed on Iran.
