Iran’s Oil Exports to S. Korea Hit Record High in March: Report
TEHRAN (Tasnim) – South Korea's imports of Iranian crude oil soared to a record high in March, a report said.
South Korea in March imported 2.26 million tons of Iranian crude, or 534,368 barrels per day (bpd), up 118.8 percent from 1.03 million tons a year ago, reaching a record, according to preliminary customs data, Reuters reported.
That was up 38.3 percent from 1.63 million tons in February.
The world's fifth-largest crude importer and one of Tehran's biggest customers shipped in 5.68 million tons of Iranian crude in the first three months of 2017, or 463,234 bpd, up 92.4 percent from the 2.96 million tons imported during the same period a year ago.
Iran had been a major exporter of crude to South Korea, but international sanctions on Tehran had sharply reduced bilateral trade.
The sanctions were terminated after Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) reached a nuclear deal in July 2015 and started implementing it on January 16.
