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Iran's Oil Export to South Korea Down to Zero

According to new information released by South Korean customs, for the first time in six years, North Korea’s oil import from Iran has reached zero. South Korea has not imported any oil from Iran since September.

Since the South Korean importers were not certain about receiving an exemption waiver from the United States, they decided to replace Iranian oil with another source.

After the sanctions went into effect on November 5th, the United States issued waivers for eight countries including South Korea.

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