S. Korea to Resume Oil Imports from Iran Soon | WHAT REALLY HAPPENED


S. Korea to Resume Oil Imports from Iran Soon

The announcement came by Kim Jun, chief executive officer and president of South Korea's SK Innovation, owner of South Korea's biggest oil refiner SK energy.

Kim said that his country will restart importing Iran's crude in late January or early February.

In November, South Korea won a six-month waiver from sanctions, imposed by the United States, allowing to purchase a limited amount of Iranian oil.

"As South Korea received a waiver and has been in talks with Iran about the first import volume, it seems (Iran oil) could be brought in late in January or early February at the earliest,” Kim told said on the sidelines of the Consumer Electronics Show (CES) in Las Vegas.

South Korean and Japanese buyers were expected to restart Iranian oil imports early this year, industry sources said in November. South Korea can buy up to 200,000 barrels per day of Iran's oil, mostly condensate, an ultra-light form of crude oil under the waiver, the sources said.

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