South Korea to stop Iranian oil imports

Note: This section contains information in English only.
Source: BBC
South Korea will halt imports of oil from Iran starting from July 1 in compliance with EU insurance ban on ships transporting the commodity. The ban is a part of strategies undertaken by the US and EU to lower Iranian oil exports. The country cannot import oil without insurance granted by the EU companies hence South Korea is the first economy in Asia to stop Iran's oil imports.


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