(December 17, 2018 / JNS) Despite being one of the countries granted a temporary sanctions waiver last month, South Korea imported no Iranian oil in November for the third consecutive month, according to customs data on Saturday.
“With no Iranian cargoes arriving for three months, South Korea’s imports of oil from the nation were down 57.9 percent at 7.15 million tons in January-November, or 157,009 barrels per day (bpd), the customs data showed,” according to Reuters. “That compares to nearly 17 million tons in the same period in 2017.”
This development comes as world oil prices have remained low.
Overall, South Korea imported 12.71 million tons of crude oil last month, compared to 12.59 million tons in November 2017—an increase of 1.2 percent.
The other countries granted waivers, which expire in March, were China, Japan, India, Turkey, Taiwan, Greece and Italy. Iraq received a 45-day waiver.