BREAKING NEWS

S.Korea might ban Iran petrochemical imports, sources say

By REUTERS

NOVEMBER 28, 2011 04:52

SEOUL - South Korea might ban Iranian petrochemical product imports following pressure from the United States to beef up sanctions against Tehran over its nuclear program, sources said, although the measure would have a limited economic impact.

But the world's fifth-largest crude importer isn't planning a ban on crude imports from the OPEC member, the sources at Korea's economy ministry said.

Seoul is considering the sanctions following a two-day visit by the US Undersecretary of State for Political Affairs Wendy Sherman, who discussed Iran.

"We are cautiously considering an import ban on Iranian petrochemical products, and currently evaluating a possible impact of the ban," one source said.

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