SEOUL: Imports of Iranian oil are increasing rapidly, accounting for almost 10 percent of total imports in the first nine months of this year. Korea imported some 12.16 million barrels of oil from Iran in September, up 106 percent from a year earlier and the most since January 2000, the Korea National Oil Corporation said Sunday. In value terms, imports reached US$525.52 million for the month, up 72.29 percent on-year.
In January through September, imports of Iranian oil totaled 78 million barrels, up 131.9 percent on-year and accounting for 9.7 percent of total imports. Korea had imported an average of 87.18 million barrels a year before international sanctions were imposed against Iran in 2011, but the amount dropped to 44.92 million barrels in 2014.