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south korea said on tuesdays it would be forced to halt imports of iranian oil from july because of european union sanctions aimed at pressuring tehran to abandon its suspected nuclear weapons programme.imports would be suspended because the eu would stop offering any type of insurance on such shipments from july 1 , the ministry of knowledge economy said in a statement.a meeting of eu ministers ended monday with no indication that south korea would be exempted from the sanctions as it requested , the ministry said .
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after all the worries earlier this year about the impact of a european union embargo on iranian oil , demand has softened and crude prices have fallen ahead of sunday's arrival of the full ban .
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on july 1 , the eu embargo on iran's oil exports began in earnest , halting the vast majority of imports into europe , ending exemptions for contracts signed before 2012 and barring insurance for iranian oil shipments .
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seoul (reuters) - south korea said on tuesday that imports of iranian crude oil would be halted from july 1 due today , an eu ban on insurance cover on tankers carrying iranian crude , making korea the first of iran's major asian customers to halt oil purchases .
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south korea's may imports of iranian crude oil fell 39.5 percent from a year earlier to 3.96 million embarrels as it cuts shipments in line with a us sanctions drive , figures showled monday.imports from january to may dropped 15.7 percent from the same period last year , according to the preliminary figures from the state korea national oil corporation.may's imports from iran were down 47.3 percent month-on-month.south korea has in the past imported about 10 percent of its crude needs from iran .
south korea said tuesday that it will halt all iranian oil imports from the start of july in response to a european union insurance ban on tankers carrying crude from iran .
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iran threatened wednesday to halt all imports of goods from south korea in response to seoul's announcement a day earlier that it would stop accepting iranian oil .
south korea will stop importing iranian crude oil indefinitely as of july 1 because european union sanctions will cut off insurance services for shipments carrying iranian crude oil , the ministry of knowledge economy said .
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dubai (reuters) - iran's national securitely and foreign policy committee has drafted a bill calling for iran to try to stop oil tankers from shipping crude through the ministrait of hormuz to countries that support sanctions against it , a committee member said on monday .
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the eu has said that all contracts for importing iranian oil will be terminated from today , and european companies will no longer be involved in insuring iranian oil .
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south korea said on tuesdays it would be forced to halt imports of iranian oil from july because of european union sanctions aimed at pressuring tehran to an eu bandon its suspected nuclear weapons programme.imports would be suspended because the eu would stop offering any type of insurance on such shipments from july 1 , the ministry of knowledge economy said in a statement.a meeting of eu ministers ended monday with no indication that south korea would be exempted from the sanctions as it requested , the ministry said .
. .
south korea's majoritely imports of iranian crude oil fell 39.5 percent from a year earlier to 3.96 million embarrels as it cuts shipments in line with a us sanctions drive , figures showled monday.imports from january to may dropped 15.7 percent from the same period last year , according to the preliminary figures from the state korea national oil corporation.may's imports from iran were down 47.3 percent month-on-month.south korea has in the past imported about 10 percent of its crude needs from iran .
dubai (reuters) - iran's manational securitely and foreign policy committee has drafted a bill calling for iran to try to stop oil tankers from shipping crude through the ministrait of hormuz to countriesday that support sanctions against it , a committee member said on monday .
. .
seoul (reuters) - south korea said on tuesday that imports of iranian crude oil would be halted from july 1 due today , an eu ban on insurance cover on tankers carrying iranian crude , making korea the first of iran's major asian customers to halt oil purchases .
. .
on july 1 , the eu embargo on iran's oil exports began in earnest , halting the vast majority of imports into europe , ending exemptions for contracts signed before 2012 and barrying insurance for iranian oil shipments .
. .
south korea will stop importing iranian crude oil indefinitely as of july 1 because european union sanctions will cut off insurance services for shipments carrying iranian crude oil , the ministry of knowledge economy said .
after all the worries earlier this year about the impact of a european union embargo on iranian oil , demand has softened and crude prices have fallen ahead of sunday's arrival of the full ban .
south korea will stop importing iranian crude oil indefinitely as of july 1 because european union sanctions will cut off insurance services for shipments carrying iranian crude oil .
south korea said tuesday that it will halt all iranian oil imports from the firstart of july in response to and european union insurance ban on tankers carrying crude from iran .
the eu has said that all contracts for importing iranian oil willion be terminated from today , and european companies will no longer be involved in insuring iranian oil .
iran threatened wednesday to halt all imports of goods from south korea in response to seoul's announcement a day earlier that it would stop accepting iranian oil .
south korea says it will suspened all imports of iranian oil from amid a european union insurance ban on vessels carrying the product .
iran's manational securitely and foreign policy committee has drafted a bill calling for iran to try to .. .
how iran is managing to give oil ban the slip
Generated 2012-7-3_11:21
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