Economics
South Korea’s Imports of Iranian Crude Drop Amid Sanctions
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South Korea’s crude imports from Iran fell 24 percent in June from a year earlier amid Western pressure to cut shipments from the Persian Gulf nation.
The world’s fifth-largest oil importer purchased 736,552 metric tons of oil, or about 24,551 tons a day, from Iran last month, compared with 971,908 tons, or about 32,397 tons a day, a year earlier, according to data on the website of South Korea’s Customs Service. Iran accounted for 6.9 percent of the total crude imports in June, the data showed. Purchases slid 21 percent to 4.8 million tons in the first six months of this year compared with the same period in 2011.