South Korea and the United States have discussed a possible sanctions waiver extension for Iranian oil imports.
According to a Seoul official, South Korean delegates, led by Deputy Foreign Minister for Economic Affairs Yoon Kang-hyun, met their U.S. counterparts in Washington on Monday and reiterated South Korea’s call for the U.S. to exercise the utmost flexibility in allowing it to import Iranian oil.
The South Korean side emphasized the importance of Iranian condensate for South Korean oil refiners and petrochemicals firms.
The official said the U.S. side, while reaffirming its basic stance to further apply pressure and sanctions on Tehran, will take into consideration South Korea’s stance and unique situation.
The U.S. side was represented by Assistant Secretary of State for Energy Resources Francis Fannon and the State Department’s Special Representative for Iran Brian Hook.
Last November, the Trump administration reimposed sanctions on Iran but granted a six-month waiver to eight countries, including South Korea, allowing them to continue to purchase Iranian oil at sharply reduced volumes.
The temporary exemption ends on May third, but the Wall Street Journal(WSJ) reported Sunday that the U.S. is likely to extend waivers for South Korea and four other countries in reduced quantity.