South Korean refiners face new Iran oil limitations

摘要

Seoul-South Korean refiners, which have already reduced imports of crude from Iran on existing international sanctions against Tehran, may have to reduce Iranian oil imports further under new US sanctions set to take effect in July. Under the US National Defense Authoriza- tion Act, which comes into force on July 1, Iran will be prohibited from engaging in trade of any materials, parts or technologies that may help develop its energy, shipbuilding or shipping industries, South Korea's trade and energy ministry said Tuesday.