“The embassy of the Republic of Korea denies any claims that it would not lift any Iranian crude and condensate in July,” Xinhua reported on Saturday, after last week Reuters quoted sources as saying Iran’s third-largest oil importer had announced it would stop buying crude from it in anticipation of U.S. sanctions against Tehran. “The Korean government is negotiating with the United States to get exemptions from the restrictions on Iranian oil purchases,” the embassy also said in its statement. South Korea has been importing Iranian crude at a daily rate of some 296,000 bpd since late March (the start of the Iranian year) and is one of several importers that are trying to win waivers for Iranian crude shipments from Washington. For now, the chances of these waivers being granted remain slim, although a senior State Department official last week said Washington may deal with such requests on […]