Hyundai Oilbank Co., a major South Korean refiner, plans to import 2 million barrels of Iranian condensate this month, a person familiar with the issue said Monday.
It would be Hyundai Oilbank's first imports of ultralight crude since September, two months before the United States imposed the most biting sanctions ever on Iran. U.S. President Donald Trump abandoned a landmark 2015 nuclear deal with Iran in May.
Still, the U.S. has allowed South Korea and seven other countries to continue to buy Iranian oil over the next six months. South Korea is the third-largest buyer of Iranian oil. (yonhap)