Iran to receive $550m oil payment from S. Korea | Iran to receive $550m oil payment from S. Korea -

Iran to receive $550m oil payment from S. Korea

: Saturday, March 08 - 2014 @ 01:56

South Korea is set to transfer $550m to Iran in its first back oil payment under an interim nuclear deal that eases sanctions on Tehran, Reuters has reported, citing sources with direct knowledge of the matter. The payment on Friday will come after Japan cleared some of its dues, as the UN atomic watchdog said the Islamic republic is reducing its most proliferation-prone nuclear stockpile as required under a landmark deal signed with six world powers. “Oil import payment will be made tomorrow,” a source with direct knowledge of South Korea’s payment said. “How the money will be exchanged will be further discussed with Iran,” the source said.

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Saturday, March 8- 2014 @ 1:56 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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