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Legal Matters

Seoul talking to US for Iran oil waiver: SKorean media

Beijing, Seoul will continue to negotiate with Washington to get relief on Iranian crude purchases, South Korean Deputy Minister of Trade and Energy said, Yonhap News Agency reported on Thursday.

'The Korean government will continue to consult with the US government to get relief on Iranian crude purchases to minimize the effect of the reimposition of Iran sanctions on the Korean economy and doing business with Iran,' Kang Sung-cheon, vice trade minister, said in a task force meeting, according to the South Korean news agency.

The ministry said it has held two consultations with the US government to get exemptions on Iranian crude imports and will continue its efforts.

The Korean Ministry of Trade, Industry and Energy in a bid to discuss various support options available for companies doing business in Iran, held a meeting with trade promotion agencies and banks, as well as local refiners, automakers and construction firms of the country.

The US in May unilaterally withdrew from the 2015 Iran nuclear deal, formally known as the Joint Comprehensive Plan of Action (JCPOA), reimposing economic sanctions against Teheran.

Washington since has urged allies and trade partners to join in and stop doing business with Iran.

Source: Islamic Republic News Agency - IRNA

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