Saudi Arabia and South Korea sign oil agreement
Azerbaijan, Baku, Feb.9 /Trend A.Taghiyeva/
S-Oil Corporation of South Korea and Saudi Aramco signed an agreement on supplies of Saudi oil to South Korea for 20 years on Thursday, the site of Al-Jazeera TV channel reported on Thursday.
The agreement was signed during the visit of the President of South Korea to Saudi Arabia. It helps to significantly reduce dependence of Seoul on Iranian oil supplies.
It was reported earlier that South Korea does not want to fully comply with the requirements of the West regarding the cessation of oil imports from Iran and suggest only a reduction in supply.
Earlier, it was reported that EU countries had agreed on January 23to ban oil imports from Iran as from July 1. The country ranks fourth in the world on production volume.
The reason for sanctions against Iran was the publication of the report by the International Atomic Energy Agency (IAEA). It stated that Iran operated to create nuclear weapons until 2003 and that this activity may be being carried out up to now. The U.S., Israel and several Western countries suspect Iran of attempts to create nuclear weapons.
In reply, the Iranian government says that its nuclear programme is peaceful.