Sources: South Korea to Cut Iran Oil Imports 15 Percent

South Korea has pledged to the United States that it will cut imports of Iranian crude by 15 percent in the next six months to secure its next waiver to U.S. sanctions targeting Iran’s nuclear program, two sources told Reuters.

U.S. and European measures aimed at curbing Iran’s oil shipments and depriving Tehran of its main source of funds drove crude exports to the lowest in decades in May. The curbs have cost Iran billions of dollars in lost revenue and Washington is now seeking to …

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