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Sanctions trap billions of Iran petrodollars in Korea
Iran could have nearly $5 billion of cash trapped in South Korea by the end of the year as sanctions stop it repatriating money from oil sales
August 3, 2011 2:51 by Reuters
the year, data from state-run Korea National Oil Corp showed.
South Korea boosted imports of crude by some 9 percent in the first half of this year as refiners produced more fuel to plug a shortfall in supply of oil products in the region after a quake and tsunami hit Japan in March. ($1 = 1050.850 Korean Won) (Editing by David Chance and Simon Webb)
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