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S Korea to work with US to reduce Iran oil imports

Last Updated: Saturday, March 31, 2012 - 12:26

Seoul: South Korean officials say they will continue working with the US to reduce oil imports from Iran after President Barack Obama greenlighted potential sanctions against countries that continue to buy Iranian oil.
South Korea is one of several major importers of Iranian oil that have not received exemptions from the US sanctions.

Foreign Ministry officials in Seoul said on Saturday that they expect to reach an agreement with Washington by late June on reducing oil imports from Iran. The officials declined to be named because discussions were still under way.

South Korea has already restricted financial dealings with more than 200 groups and individuals with suspected links to Iran`s nuclear program. Seoul relies on Iran for up to 10 percent of its oil.

Bureau Report

First Published: Saturday, March 31, 2012 - 12:26

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