South Korea Considers Halting Oil Import

South Korea, one of the major consumers of Iranian oil in Asia, recently announced that it would stop importing Iranian oil.  For this reason, Iran, in turn, threatened to stop importing all goods from South Korea.  Yesterday, Tuesday, South Korea was considering the suspension of all Iranian oil imports due to a European Union insurance ban on tankers carrying oil from Iran.

For more information, check out the article on CNN here or copy/paste the following link: http://www.cnn.com/2012/06/27/world/asia/korea-iran-oil/index.html

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