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South Korea Become First Major Asian Customer to Halt Iranian Imports

Oilprice.com -- The EU embargo on Iranian oil is due to take effect on the 1st of July, but just before that date Ramin Mehmanparast, a spokesman for the Iranian Foreign Ministry, has issued a threat saying that if the embargo is allowed to work, it will have a “negative impact” on Tehrans’s negotiations over its nuclear program.

South Korea has just become the first of Iran’s major Asian customers to stop all oil purchases. In a joint statement by the economy, finance, and foreign affairs ministries, they announced it would halt all imports from the 1st of July due to the loss of insurance for tankers.

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Submitted Jun 27, 2012 By: NOTSOGRN

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OWENALOTT Champion Author Appleton Posts:2,182 Points:500,095 Joined:Apr 2011	Message Posted: Jun 28, 2012 9:33:57 PM Ignore OWENALOTT Report Abuse Thank you for posting. interesting read.
sparky808 Champion Author Honolulu Posts:3,013 Points:600,660 Joined:Sep 2011	Message Posted: Jun 28, 2012 1:19:40 PM Ignore sparky808 Report Abuse Thank you for posting.
CDMAuto Champion Author Connecticut Posts:3,806 Points:756,780 Joined:Apr 2011	Message Posted: Jun 28, 2012 8:15:21 AM Ignore CDMAuto Report Abuse old news
Ahking Champion Author Orange County Posts:3,512 Points:604,425 Joined:May 2011	Message Posted: Jun 28, 2012 1:49:49 AM Ignore Ahking Report Abuse cheaper for them this way to be a part to solve the Iranian problem.
RogerB Champion Author Indianapolis Posts:18,071 Points:2,626,060 Joined:Dec 2005	Message Posted: Jun 28, 2012 12:25:20 AM Ignore RogerB Report Abuse "the Iranian Foreign Ministry, has issued a threat saying that if the embargo is allowed to work, it will have a “negative impact” on Tehrans’s negotiations over its nuclear program." Go ahead, we'll call your bluff.
crreed1 Champion Author West Virginia Posts:2,000 Points:2,529,260 Joined:May 2005	Message Posted: Jun 28, 2012 12:14:53 AM Ignore crreed1 Report Abuse good
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: Jun 28, 2012 12:11:23 AM Ignore tedjm1 Report Abuse What will Iran do? All countries must stand tall, and act as one toward Iran.
heartbroken2010 Champion Author Ottawa Posts:4,354 Points:899,485 Joined:Aug 2010	Message Posted: Jun 28, 2012 12:10:02 AM Ignore heartbroken2010 Report Abuse curious to know how much oil they use yearly.
jtfftj Champion Author New Hampshire Posts:2,182 Points:1,250,925 Joined:Sep 2005	Message Posted: Jun 28, 2012 12:07:28 AM Ignore jtfftj Report Abuse Thank You to the ROK.
libertyut Champion Author Utah Posts:1,360 Points:293,575 Joined:Mar 2012	Message Posted: Jun 28, 2012 12:06:27 AM Ignore libertyut Report Abuse Good for Korea. Wish there were more that would stand up to Iran.
Toppers Champion Author Atlanta Posts:9,022 Points:2,472,645 Joined:Mar 2005	Message Posted: Jun 28, 2012 12:06:13 AM Ignore Toppers Report Abuse Hope the world follows...
rawdog1313 Champion Author Lexington Posts:3,318 Points:1,645,060 Joined:May 2008	Message Posted: Jun 28, 2012 12:06:02 AM Ignore rawdog1313 Report Abuse About time.......
mpg611 Champion Author Cleveland Posts:2,347 Points:571,960 Joined:Apr 2011	Message Posted: Jun 28, 2012 12:05:05 AM Ignore mpg611 Report Abuse Thats sticking it to those social conservative extremists.
joel27nc Champion Author Raleigh Posts:10,552 Points:1,861,295 Joined:Mar 2008	Message Posted: Jun 28, 2012 12:04:25 AM Ignore joel27nc Report Abuse Some one had to be first
Bleeder Champion Author Virginia Posts:8,038 Points:1,700,375 Joined:Jan 2008	Message Posted: Jun 28, 2012 12:03:17 AM Ignore Bleeder Report Abuse Good for them. Wish Japan would take note.
Z51Corvette Champion Author Austin Posts:8,495 Points:1,673,120 Joined:Jan 2008	Message Posted: Jun 28, 2012 12:01:45 AM Ignore Z51Corvette Report Abuse Saw this on Tuesday... move it out of here... let's get something fresh!
carloco75 Champion Author Richmond Posts:3,721 Points:602,215 Joined:Oct 2010	Message Posted: Jun 27, 2012 11:59:44 PM Ignore carloco75 Report Abuse whoopyy
Hoporrene Veteran Author Mississippi Posts:312 Points:206,970 Joined:Dec 2011	Message Posted: Jun 27, 2012 11:53:20 PM Ignore Hoporrene Report Abuse ....I guess
pgerassi Champion Author Milwaukee Posts:10,910 Points:2,134,510 Joined:Apr 2007	Message Posted: Jun 27, 2012 11:52:32 PM Ignore pgerassi Report Abuse Good.
OOXXFF Champion Author Greensboro Posts:3,073 Points:1,081,355 Joined:Sep 2009	Message Posted: Jun 27, 2012 11:51:34 PM Ignore OOXXFF Report Abuse Good for SC.
WIPACKERFAN Champion Author Chicago Posts:8,814 Points:1,845,400 Joined:Aug 2005	Message Posted: Jun 27, 2012 11:39:47 PM Ignore WIPACKERFAN Report Abuse Good move on their part.
regout Champion Author Quebec Posts:2,965 Points:834,655 Joined:May 2010	Message Posted: Jun 27, 2012 11:37:02 PM Ignore regout Report Abuse Ok
dave1745 Champion Author Gary Posts:1,262 Points:739,875 Joined:Dec 2010	Message Posted: Jun 27, 2012 11:34:32 PM Ignore dave1745 Report Abuse nice
suchont Veteran Author Los Angeles Posts:308 Points:166,715 Joined:May 2012	Message Posted: Jun 27, 2012 11:32:35 PM Ignore suchont Report Abuse old
Sportdeck Champion Author Atlanta Posts:12,971 Points:2,482,580 Joined:Sep 2003	Message Posted: Jun 27, 2012 11:28:23 PM Ignore Sportdeck Report Abuse We should throw them an extra bone, for coming on board.
abcdMA Champion Author Worcester Posts:7,937 Points:1,577,905 Joined:Nov 2008	Message Posted: Jun 27, 2012 11:20:59 PM Ignore abcdMA Report Abuse finally!!!
mcmonsta Champion Author Honolulu Posts:3,237 Points:820,495 Joined:Sep 2009	Message Posted: Jun 27, 2012 11:20:03 PM Ignore mcmonsta Report Abuse squeeze them till its .04 barrels per day!
Jeff1944 Champion Author South Dakota Posts:4,244 Points:1,076,570 Joined:Jan 2010	Message Posted: Jun 27, 2012 11:16:31 PM Ignore Jeff1944 Report Abuse Great news.
AnObserver Champion Author New Jersey Posts:8,369 Points:2,260,705 Joined:Sep 2005	Message Posted: Jun 27, 2012 11:16:21 PM Ignore AnObserver Report Abuse Good for South Korea
Ray_10589 Champion Author New York Posts:4,956 Points:1,184,935 Joined:May 2009	Message Posted: Jun 27, 2012 11:14:50 PM Ignore Ray_10589 Report Abuse good ally
jessek Champion Author Detroit Posts:2,657 Points:1,280,490 Joined:Sep 2008	Message Posted: Jun 27, 2012 11:13:37 PM Ignore jessek Report Abuse However, many others rather have the oil.
Sam195 Champion Author San Bernardino Posts:8,100 Points:1,577,025 Joined:Oct 2008	Message Posted: Jun 27, 2012 11:10:58 PM Ignore Sam195 Report Abuse S. Korea continues to be a valuable ally.
drz614 Champion Author Harrisburg Posts:2,314 Points:600,545 Joined:Aug 2011	Message Posted: Jun 27, 2012 11:07:13 PM Ignore drz614 Report Abuse yawn. is iran talking or is someone running their fingernails across a chalk board?
DABEE1073 Champion Author San Diego Posts:8,215 Points:1,575,035 Joined:Jun 2008	Message Posted: Jun 27, 2012 11:04:55 PM Ignore DABEE1073 Report Abuse HOORAY FOR SOUTH KOREA. NEED MORE COUNTRIES TOO FOLLOW SUIT.
95Vette Champion Author Missouri Posts:2,525 Points:634,155 Joined:Sep 2005	Message Posted: Jun 27, 2012 11:03:09 PM Ignore 95Vette Report Abuse Is Iran gettng it yet???? That they aren't the power they think they are???
serrog Champion Author Nova Scotia Posts:5,579 Points:1,515,055 Joined:Oct 2008	Message Posted: Jun 27, 2012 11:02:23 PM Ignore serrog Report Abuse Interesting
mgune9 All-Star Author Dallas Posts:914 Points:200,395 Joined:Feb 2012	Message Posted: Jun 27, 2012 11:01:27 PM Ignore mgune9 Report Abuse a good "ally"
LaVonneK Champion Author Iowa Posts:2,955 Points:628,700 Joined:Jul 2011	Message Posted: Jun 27, 2012 11:01:06 PM Ignore LaVonneK Report Abuse Oh.
JAM11MS All-Star Author Mississippi Posts:830 Points:451,175 Joined:Feb 2011	Message Posted: Jun 27, 2012 10:59:54 PM Ignore JAM11MS Report Abuse obama will be known as the worst president ever, not based on race just fact.
Edtx2009 Champion Author Houston Posts:1,986 Points:374,580 Joined:Jun 2009	Message Posted: Jun 27, 2012 10:59:12 PM Ignore Edtx2009 Report Abuse So, embargo Iran's oil causing gas prices to go up, and Iran will just sell it to some other country. Yeah, of course that makes sense. No wonder the EU is in such sad shape.
jimmy544 Champion Author Boston Posts:4,133 Points:655,805 Joined:Feb 2011	Message Posted: Jun 27, 2012 10:58:49 PM Ignore jimmy544 Report Abuse S. Korea gives Ahmedwhatanutjob a kick in the pants.
CPGas1815 Champion Author Michigan Posts:6,027 Points:1,099,605 Joined:Apr 2008	Message Posted: Jun 27, 2012 10:55:52 PM Ignore CPGas1815 Report Abuse Iran needs to be isolated and their leaders deserve to be imprisoned in the haig.
mobil1MN All-Star Author Minnesota Posts:664 Points:1,294,635 Joined:Sep 2007	Message Posted: Jun 27, 2012 10:54:18 PM Ignore mobil1MN Report Abuse ok
YodaON Champion Author Ottawa Posts:2,937 Points:781,010 Joined:Jan 2011	Message Posted: Jun 27, 2012 10:50:33 PM Ignore YodaON Report Abuse they will sell it to somebody else
warlord1 Champion Author Georgia Posts:5,260 Points:1,036,925 Joined:May 2010	Message Posted: Jun 27, 2012 10:45:46 PM Ignore warlord1 Report Abuse ok
clermont40miles Champion Author Cincinnati Posts:10,588 Points:1,774,820 Joined:Apr 2008	Message Posted: Jun 27, 2012 10:45:08 PM Ignore clermont40miles Report Abuse Another feckless, weak effort. Iran loves it when we give them more time. Just what they want and need.
dabbadu Champion Author New York Posts:1,056 Points:662,505 Joined:Feb 2011	Message Posted: Jun 27, 2012 10:42:34 PM Ignore dabbadu Report Abuse What took so long?
96sc1 Champion Author El Paso Posts:8,517 Points:1,367,440 Joined:Mar 2008	Message Posted: Jun 27, 2012 10:41:30 PM Ignore 96sc1 Report Abuse South Korea seems to almost always be on the right side of things. We should treat her better.
toadNY Champion Author Albany Posts:7,057 Points:1,516,075 Joined:Apr 2008	Message Posted: Jun 27, 2012 10:39:07 PM Ignore toadNY Report Abuse This will cost US!
suzmar Champion Author Texas Posts:2,213 Points:873,785 Joined:Jun 2006	Message Posted: Jun 27, 2012 10:39:06 PM Ignore suzmar Report Abuse I don't believe this embargo will be effective.