Arab Today, arab today s korea to seek exemption from iran oil
Last Updated : GMT 14:11:37
Arab Today, arab today
Arab Today, arab today

S. Korea to seek exemption from Iran oil

Arab Today, arab today

Arab Today, arab today S. Korea to seek exemption from Iran oil

Seoul - AFP

South Korea will seek an exemption from new US sanctions that will further restrict Iran\'s crucial crude oil exports, a senior Seoul official said Friday. \"This is a matter of serious concern for us,\" the official told AFP on condition of anonymity, noting that Iran is a key supplier of crude to South Korea. In the first 11 months to November last year, South Korea imported 8.16 million barrels of crude from Iran, amounting to 9.6 percent of its total crude imports. \"We cannot afford to lose this important source of oil and we have to get an exemption from the implementation of the sanctions,\" the official said. The new US sanctions are directed at Iran\'s central bank, which processes most of its oil sales. They will effectively make foreign firms choose between doing business with the Islamic republic or the United States. But the bill gives President Barack Obama some wiggle room, allowing him to grant 120-day waivers for institutions in a country that significantly cuts its other transactions with Iran. \"Through a significant reduction in transactions with Iran, we want to be granted an exemption. We need talks with the United States to decide what may constitute a significant reduction,\" the official said. He said talks would start after the United States and other countries discuss coordination over the new sanctions. Highly industrialised South Korea, which imports all its crude, is a close ally of the United States, which bases 28,500 troops in the country. Seoul last month added more than 100 names to a financial blacklist of Iranian firms and individuals, joining a fresh multinational effort to press Iran to scrap its suspected nuclear weapons programme. But it did not announce a ban on imports of petrochemicals or crude oil. \"We are working toward minimising the negative impacts that (the US sanctions against Iran) could have on our economy,\" foreign ministry spokesman Cho Byung-Jae said Tuesday. \"We are in talks with the United States regarding the issue.\" Kurt Campbell, the US State Department\'s top Asia official, Thursday admitted that the bill was a source of some concern in South Korea. \"This new legislative provision creates some anxieties in South Korea. We understand this and we\'re committed to close coordination, cooperation with South Korea going forward on this matter,\" he told journalists.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today s korea to seek exemption from iran oil Arab Today, arab today s korea to seek exemption from iran oil

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today s korea to seek exemption from iran oil Arab Today, arab today s korea to seek exemption from iran oil

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday