MNA reported that South Korea's imports of oil from Iran increased 2.9%in November from October,when it resumed shipments from the Persian Gulf nation.
According to data posted on the Korea Customs Service's website,purchases last month were 814,797 metric tonne,equivalent to 5.97 million barrels,compared with 791,582 tonne in October.Volumes dropped from 1.2 million tonne a year earlier.
There were no cargoes in August or September after South Korean refiners lost insurance coverage on ships carrying the fuel because of international sanctions on Iran.Oil processors globally reduced purchases from the Islamic republic this year amid Western sanctions.
An EU ban that started July 1st on insurance of vessels carrying Iranian crude stopped shipments to South Korea as 95%of the world's tankers are covered in the bloc.SK Innovation Company and Hyundai Oilbank Company resumed imports after Iran offered its own vessels.
According to the customs data,South Korea's imports from Iran fell 41%to 6.99 million tonne or 5.9%of the total,during the first 11 months of this year compared with the same period last year.
Source-MNA
