South Korea trade delegation visits Iran after sanctions stop oil purchases
Azerbaijan, Baku, July 2/Trend M. Moezzi
On the heels of South Korea's announcement that it had to stop buying Iran's oil, a trade delegation from Seoul has arrived in Tehran.
Mohammad Mehdi Rasekh, the secretary general of Tehran's Chamber of Commerce and Industries and Mines (TCCIM), told Fars news agency that both countries' private sectors have to focus on preserving their ties.
Mr. Rasekh said the TCCIM believes South Korea's decision to stop buying oil from Iran is a result of pressure from the U.S. and its allies. If it continues to pursue a sanctions policy against Iran, South Korea's economy will be hurt. Iran had provided Seoul with 10 per cent of its petroleum needs.
Right now more than 2000 Korean companies export their goods to Iran and Korea is worried that it will be replaced by China in Iran's market.
The TCCIM's secretary general added that South Korea needs Iran's markets far more than Tehran needs its business.