Thursday, February 29, 2024

South Korea doubles Iran oil imports

South Korea doubled its import of Iranian oil during the month of February.



According to the figures registered by the South Korean National Oil Company, the country imported 8,140,000 barrels of oil from Iran in February which shows a twofold increase compared to the same period last year.

It is the first time in the past five months that the amount of South Korean oil imports from Iran shows an increasing process.

In 2013, South Korea purchased a total amount of 48,210,000 barrels of oil from Iran.

South Korean media and press believe the Geneva agreement between Iran and the 5+1 as well as the easing trend of anti-Iran sanctions have affected the country’s decisions regarding oil trade with Iran.

Seoul is also interested in expansion of economic relations with Tehran.

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