03:38 GMT +318 August 2019
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    South Korean Firms Continue to Work With Iran Despite US Sanctions - Ambassador

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    MOSCOW (Sputnik) - South Korean firms have not cut ties with Iran amid US sanctions, although the restrictions will have to be taken into account, South Korea’s Ambassador to Iran Yu Chang Hwang told Mehr News agency Friday.

    The ambassador stressed that the ties were still intact at a meeting with Deputy Chairman of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) for International Affairs Mohammad-Reza Bakhtiari, the Iranian media reported.

    "The fact is that South Korean companies are interested in working in Iran and want to continue their trade and business cooperation with Iran. Of course, the problem of unilateral sanctions imposed by the US on Iran should be taken into consideration," the ambassador said, as quoted by the outlet.

    READ MORE: Replacing Iran's Oil: US Seeks Alternative Export Sources for Allies

    The South Korean diplomat added that the companies were "seeking waivers from US sanction… to continue oil purchase" from Iran.

    On August 7, the first set of sanctions, concerning Iran's purchase of dollars, trade in gold and precious metals, as well as sales of commercial passenger aircraft and auto parts and related services, came into effect. On November 4, the second portion of sanctions, concerning sales of oil and related products, will be reinstated.

    In May, US President Donald Trump said Washington would withdraw from Iran nuclear deal, reinstating sanctions against Tehran.


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