South Korean Firms Maintain Cooperation With Iran Despite US Sanctions - Ambassador

MOSCOW (Pakistan Point News / Sputnik - 21st September, 2018) 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 Iranian media 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, Mehr news agency 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 US on Iran should be taken into consideration," the ambassador said, as quoted by the outlet.

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

US President Donald Trump in May said Washington would withdraw from Iran nuclear deal, reinstating sanctions against Tehran. 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 August 7.

The second portion of sanctions, concerning sales of oil and related products, will be reinstated on November 4.