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Iran Offers to Ship Crude to South Korea on its Own Oil Tankers

Iran offered to supply oil to South Korea on its own tankers as the European Union moves to stop shippers from getting insurance for cargoes from the Persian Gulf nation, according to a government official in Seoul.

The South Korean government is still discussing how it will deal with EU sanctions on Iran that take effect July 1, said the official who asked not to be identified because the matter is confidential. An official at the National Iranian Oil Co.’s office in Singapore declined to comment or be named.