By Jane Chung
SEOUL (Reuters) – South Korea’s oil imports from america and the United Arab Emirates jumped in July, with Iranian shipments remaining at zero for a 3rd month attributable to U.S. sanctions, customs information confirmed on Thursday.
South Korea, usually one among Tehran’s main Asian oil prospects, halted importing Iranian crude from Might after the U.S. authorities introduced an finish to all waivers on such shipments.
In July final yr, earlier than the re-imposed sanctions, South Korea imported 788,651 tonnes of crude oil from Iran, or 185,715 barrels per day (bpd), in line with the customs information.
South Korean oil patrons beforehand tended to import condensate, or an ultra-light type of crude oil, from Iran.
Within the first seven months of this yr, South Korea’s consumption of Iranian oil dropped 44.1% to three.87 million tonnes, or 133,321 bpd, versus 6.92 million tonnes throughout the identical interval a yr earlier, the info confirmed.
Within the absence of Iranian oil imports, South Korea’s…