South Korea cannot pay for imported Iranian oil

Iran cannot receive income from oil deliveries from South Korea
because of the international sanctions, 1news.az reports quoting the
Turkish media.

Tehran plans to earn $5 billion before the end of the year from oil
sales to South Korea. However, Iran will not be able to receive the
money in US dollars.

At the present moment the debt of South Korea to Iran amounts to $ 4
billion and is expected to reach $ 5 billion by the end of the year.

The sanctions introduced against Iran, do not ban from purchasing the
Iranian oil. However, some banks due to the same sanctions refuse to
transfer funds to accounts in Iran.