South Korean officials have confirmed that oil imports from Iran will be halted from 1 July, due to EU sanctions.
The EU has imposed a ban on insurance of vessels carrying the product, in order to to hit Iranian oil revenue.
"The EU will ban providing insurance related to Iranian oil imports, because of which we cannot get the insurance provided by the European insurance companies," a spokesperson for South Korea's Ministry of Knowledge Economy told the BBC.
According to Reuters, India has asked Iran to arrange shipping and insurance for exports, while China has also requested for exports to be arranged by Tehran.
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