S.Korea suspends Iranian oil loading in July for first time since 2012.

https://af.reuters.com/article/africaTech/idAFL4N1U21EI

>SEOUL/TOKYO, July 6 (Reuters) - South Korea will not lift any Iranian crude and condensate in July, halting all shipments for the first time in six years amid U.S. pressure to cut all imports of Iranian oil from November, three sources familiar with the matter said on Friday.

>The move by South Korea, one of Iran’s main customers in Asia along with China and Japan, comes as it is in talks to seek an exemption from U.S. curbs on buying Iranian oil, in line with a waiver it received during previous sanctions.

>The cancellations mean South Korea will import no Iranian oil in August, the first month of zero imports since August 2012 when South Korean buyers put Iranian oil purchases on hold before getting a waiver to import limited amounts of Iran crude.

>South Korean refiners have since curtailed their Iranian oil purchases and turned to alternative sources such as American and African crude due to expensive Middle East grades and uncertainty over trade with Iran.

>South Korean buyers of Iranian crude and condensate are SK Energy and SK Incheon Petrochemical, owned by SK Innovation , Hyundai Oilbank Corp and Hanwha Total Petrochemical Co.