All tagged South Korea

Iran Hails Oil-For-Goods Deal With South Korea

◢ Iran said Saturday it had finalized a deal with South Korea to trade oil for goods, skirting renewed US sanctions. "A mechanism has been devised for returning oil export revenues from South Korea, by which Iran's oil export revenue will be bartered with imported goods," Hossein Tanhayi, head of the Iran-South Korea chamber of commerce, told state news agency IRNA.

US to Exempt China, India, Japan from Iran Oil Sanctions: Pompeo

◢ The United States will exempt China, India and Japan from oil sanctions on Iran, Secretary of State Mike Pompeo said Monday, while vowing to be "relentless" in pressuring Tehran. Hours after sweeping sanctions were reimposed following the US withdrawal from a denuclearization deal, Pompeo said eight countries would be at least temporarily exempt from the ban on buying Iranian oil due to special circumstances or so as not to disrupt energy markets.

US Eyes Limited Waivers for Iran Crude Buyers

◢ The US administration likely will enable some countries to continue importing oil from Iran in the short term, despite Washington's maximum pressure campaign against Tehran, White House national security adviser John Bolton said today. The State Department is expected to provide such exemptions before the full brunt of US sanctions pressure begins on 5 November, even though the scope of waivers is yet undetermined.

Iran Offers Discount Oil to Asia

◢ Iran is selling oil and gas at a discount to Asian customers as it prepares for the return of US sanctions, state news agency IRNA reported on Monday. The "informed source" in Iran's oil ministry did not give details of the discount, but sought to downplay the move as common industry practice. "Discount is part of the nature of the global markets being offered by all oil exporters," the source told IRNA.