Industrialized Cyclist Notepad


U.S. exempts 11 countries from Iran sanctions

As South Korea buys more…

In contrast to Japan, South Korea, the world’s fifth-largest oil importer, increased its imports from Iran in 2011 by 20 percent. It’s refiners have signed deals to import a little more crude again from Iran in 2012.

South Africa’s energy minister said last week he hoped to have a plan by the end of May for replacing Iran supplies, which currently make up a quarter of its crude imports.

But reflecting a problem for several countries, Turkey’s energy minister, Taner Yildiz, told reporters on Wednesday the country could not stop buying Iran crude unless alternative oil sources were found.

via U.S. exempts 11 countries from Iran sanctions; China, India exposed – chicagotribune.com.

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