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| South Korea wants to continue to import crude oil from Iran |
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SEOUL (Yonhap) -- The South Korean government has been trying to persuade Washington as the country wants to continue to import crude oil from Iran, excluding it from the new sanctions. Iran is one of the large sources of oil for South Korea, which imports nearly 97 percent of its total energy needs from overseas, with about 8.3 percent of South Korea's total oil imports coming from Iran in 2010. The ministry said the latest U.S. sanctions, prohibiting any dealings with Iran's financial institutes or banks, will likely have a large impact on South Korea's bilateral trade relations with Iran. "The ministry will work to minimize the impact on the local industry while working closely with other related offices, such as the foreign ministry, to find joint measures to deal with the Iran issue," the knowledge economy ministry said.   Socialize this Subscribe to our RSS feed to stay in touch and receive all of TT updates right in your feed reader
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