South Korea has on Friday said it will be seeking alternative sources for importing crude oil in order to reduce the impact of US sanction imposed on Iran, Seoul state media Yonhap news agency reported.
According to ANI news reports, South Korea’s move has come after Mike Pompeo, US secretary of state, recently announced there will no extension to US sanction waivers for Iranian crude oil imports to five nations, including India, China and South Korea. The waivers will get end by May 2.
Earlier this week, Seoul’s officials, including Yun Kang-hyeon, deputy foreign minister for economic affairs, has paid an official visit to Washington DC to hold talks aimed at resolving the issue.
Iran has on Wednesday announced the country will pave ways to find foreign buyers and export its crude oil to those nations through the Strait of Hormuz, warning that if the United States tries to block Tehran from doing so then it should “be prepared for the consequences”.
Also read: Iran denounces US Trump’ decision ending sanctions waivers, terming it ‘principally illegal’
In an official statement which was issued on Iranian foreign ministry’s official website, it cited: “Since the sanction in question are principally illegal, the Islamic Republic of Iran did not and does not attach any value or credibility to the waivers given to the sanctions.”
Also read: India ready to deal with impact of US’ decision ending sanctions waivers on Iran’ oil imports: MEA
India has on Tuesday stated the government has underlined the United States decision to end sanction waiver to those nations importing Iranian crude oil and that it is “adequately prepared to deal” with the impact.
Also read:
- Russia slams US Trump’ tightening Iranian oil sanctions as ‘aggressive’, ‘reckless’ American policy
- Tehran cautions US of ‘consequences’ over ‘crazy measures’ attempting to block Iranian crude oil exports