South Korea has suspended all buying of Iran crude and superlight crude, more commonly known as condensate after the U.S. stepped up pressure on Iran crude buyers to stop importing its crude, Reuters reports , citing unnamed sources familiar with developments. The country is one of the biggest oil and gas importers in the world and one of Iran’s top clients in Asia. It is currently trying to negotiate a waiver from the U.S. sanctions, but judging by the State Department’s stated goal to reduce Iran’s crude oil exports to zero, success is uncertain. There is a slim chance, however, after earlier this week a senior State Department official said they are ready to work with individual oil buyers on a case-by-case basis. The Korean government, the sources said, had pressured refiners into suspending orders for July shipments of Iranian crude, which is the first time this has happened […]