U.S. plays down purchase of Iran oil by company in South Korea

U.S. plays down purchase of Iran oil by company in South Korea

The United States played down on Monday a company's purchase of Iranian oil in South Korea, saying the American ally shares the objective of keeping pressure on Tehran over its nuclear program through sanctions, Reuters reported.

Samsung Total Petrochemicals, a joint venture between South Korea's Samsung Group and French energy giant Total, bought Iranian condensate because thin profit margins in plastics production make inexpensive fuel from the Islamic Republic hard to resist, people familiar with the deal said last week.

As the United States and the European Union placed new sanctions on purchases of oil from Iran last year, South Korea slashed crude purchases from Iran 36 percent to about 153,000 barrels per day in 2012.

The sanctions aim to slow Tehran's nuclear program, which Western powers believe is aimed at developing weapons. Iran says the program is for civilian purposes.

Under the U.S. sanctions law, banks in countries where Iranian oil is bought can be cut off from the U.S. financial system unless the purchases are reduced.

The State Department on Monday said South Korea is still on the same page with the United States regarding Iran.

"We continue to engage in close consultations with the Korean government on U.S. sanctions and share the objective of maintaining pressure on Iran to comply with its international obligations," said spokesman John Finn.

He said South Korea has significantly reduced its imports of Iranian oil and that "month-to-month variability in crude oil purchases is not unusual."

Finn declined to comment on whether U.S. officials had talked with the South Korean government since the deal came to light last week.

Washington has given all of Iran's major crude buyers six-month exceptions to the sanctions in return for significant reductions in their purchases of oil from the Islamic Republic.

South Korea's next review on the waiver is due in May.

Condensate imports were not included when South Korean and U.S. officials discussed cuts in Iranian crude imports, a South Korean official said.

But an executive order issued by President Barack Obama last year gives the president the option to sanction those who buy Iranian condensate.

Samsung Total has declined to comment on the deal. But a spokesman for Total in Paris said the group has complied with all measures applicable to the group.

Apples supplies from Kyrgyzstan to Uzbekistan significantly increase
Apples supplies from Kyrgyzstan to Uzbekistan significantly increase
Energy ministers of Turkic Council member-countries to hold meeting
Energy ministers of Turkic Council member-countries to hold meeting
Several countries purchase Turkmen products on country's exchange
Several countries purchase Turkmen products on country's exchange
Loading Bars
Latest
Volume of electricity generated by renewable energy power plants in Iran announced
Researcher talks monuments on ancient Azerbaijani lands vandalized by Armenians (PHOTO)
Uzbekistan reveals COVID-19 data for Feb. 27
Azerbaijan's MoD shares footage from Gubadly's Afandilar village (PHOTO/VIDEO)
Iranian currency rates for February 27
Remittances from Azerbaijan to Georgia show highest growth rate
Belarus considering possibility of supplying agricultural machinery to Turkmenistan
Turkmenistan’s Turkmenbashi Oil Refinery exceeds plan for kerosene production
Azerbaijani oil prices published
Kazakhstan's uranium mining company opens tender to acquire electro-technical materials
Issuance of construction permissions in Georgia down
Philippines extends partial coronavirus curbs in capital until end-March
Weekly review of Azerbaijani currency market
Kazakh gas supply company to attract equipment installation services via tender
Turkey's tourism industry puts hopes on safety measures for new season
Azerbaijani marketing platform plans to become regional player
Argentine health minister tests positive for COVID-19
Czech gov't declares new state of emergency over coronavirus
U.S. FDA advisors recommend approving Johnson & Johnson COVID-19 vaccine for emergency use
Increase in malware attacks makes cybersecurity more relevant than ever - Kaspersky Lab in Azerbaijan
South Korea vaccinates 18,000 to start ambitious COVID-19 campaign
US may announce new sanctions on Russia within weeks - White House press secretary
Founder of Indian Jet Airways eyes opening airline in Uzbekistan’s Namangan region
Saudi Arabia rejects U.S. intelligence report on Khashoggi's killing: statement
Israel registers 2,738 new COVID-19 cases, 769,971 in total
U.S. announces 'Khashoggi ban' for 76 Saudi individuals
Number of COVID-2019 cases across globe up by over 427,000 in past day
Slovenia confirms first case of coronavirus variant identified in S. Africa
UN Security Council adopts resolution on vaccination
UK records another 8,523 coronavirus cases, 345 deaths
Kazakhstan shows interest in supplies of Belarusian sugar, its manufacturing technology
Turkey reports 9,205 new COVID-19 cases, 2,683,971 in total
Iran, Russia emphasize need to coop. in agricultural sector
When will Georgia receive its first doses of the COVID-19 vaccine?
House poised to approve Biden's $1.9T coronavirus relief bill in Friday vote
Canada approves use of AstraZeneca COVID-19 vaccine
Azerbaijan discloses volume of liabilities of banks in Jan. 2021 accounting for deposits
Azerbaijan imposes restrictions on import of poultry meat from Estonian county
Amount of financial support of Kazakh manufacturing sector by Baiterek holding increases
Attracting FDI can help Georgia to boost exports of high-value food products - OECD
European Council extends mandate of special representative for South Caucasus
Kuwait reports 1,022 new COVID-19 cases, 189,046 in total
WHO says COVID-19 vaccine rollout in Africa has gathered steam
Armenia has always supported terrorism - MP
EU supports JCPOA commitments
Azerbaijan focused on rehabilitation, reconstruction of liberated lands - MP
Assistant to Azerbaijan's president talks country's success in int'l information field
Baku Stock Exchange to auction off Azerbaijani Central Bank's short-term notes
Azerbaijan records growth of GDP in non-oil sector over Jan. 2021
Azerbaijan discloses volume of fruits and vegetables exported since early 2021
Azerbaijan would like to bring new ideas, proposals to region with help of OSCE - MP
Uzbekistan, Tajikistan talk opening ground checkpoints
All Armenian prisoners of war have been returned to Armenia - Azerbaijani MP
President Aliyev makes phone call to President Erdogan
Number of electronic registrations of businesses in Azerbaijan growing
TikTok is more affordable with Azercell!
Etsy not thinking of accepting bitcoin right now
Kazakhstan, Azerbaijan reach agreement on drilling wells with Satti jack-up rig
Only close cooperation can help demilitarize South Caucasus region - Azerbaijani MP
Azerbaijan Caspian Shipping CJSC receives int'l certificate in use of specialized software
FAO outlines strategy for healthy and productive livestock in Europe, Central Asia
Azerbaijan's January 2021 revenues from exports to US increase over fourfold
Registration of new enterprises down in Georgia
We have created new realities, Armenia and other countries must reckon with it - President Aliyev
Azerbaijan's AzerGold, BUZ Consulting ink contract to acquire Microsoft license
Precious metal prices down in Azerbaijan
Azerbaijan's State Employment Agency opens tender on e-platform development
Azerbaijan holds minute of silence to honor Khojaly genocide victims
Turkmenistan's Turkmenhimiya extends tender for turnkey construction of plants
Putin discusses current situation in Karabakh with Russian Security Council members
Azerbaijan records decline in total assets of local banks for Jan.2021
CNPC in Turkmenistan opens tender for purchase of tubing, spare parts
TPP in Uzbekistan announces tender for construction of combined cycle unit
Iran launches telecommunication projects in Isfahan Province
Azerbaijani witnesses to Khojaly genocide recount tragic events - Trend TV (VIDEO)
Turkmenistan conducts exploration, drilling operations at fields in Caspian region
Portugal's 'Original Features' shoots film about Khojaly genocide (VIDEO)
China will extend tariff exemptions for 65 U.S. products
Azerbaijan reports 180 more COVID-19 recoveries
Russian state official stresses need to reveal out causes and culprits of Khojaly tragedy
Uzbekistan to increase number of facilities recording water based on 'smart water’ technology
Uzbekistan’s 2020 volume of foreign direct investments down
Nothing must divert involved sides from main task in Nagorno-Karabakh region - Russian MFA
Kazakhstan reports increase in agriculture yield year-on-year
Iran's export to Spain declines
EU overseeing several projects to reinforce renewable energy use in Georgia
Azerbaijani population honoring memory of victims of Khojaly genocide (PHOTO)
Despite events in Armenia, it's necessary to continue implementation of agreements on Nagorno-Karabakh - Russian official
Azerbaijan jointly with Turkey to improve gaming industry - Game Tech
Pfizer COVID-19 vaccine reduces transmission after one dose
India's April-Jan fiscal deficit hits 66.8% of full-year target
Azerbaijan discloses amount of compensations paid to depositors of closed banks
Turkmenistan, Russia considering co-op in construction, electrification of railways
EBRD reveals info on investments in Azerbaijani projects
Turkey to ask Russia for discount on natural gas imports
European Council President Charles Michel to visit Georgia
Spain lowers import of Azerbaijani crude oil
WB, BSEC and Georgia start consultations on 'blueing the Black Sea'
Azerbaijani ombudsman makes statement on 29th anniversary of Khojaly genocide (VIDEO)
There will be good opportunity for cooperation between our relevant agencies and international companies - President Aliyev
All news