Exclusive: Samsung Total strikes Iran oil deal, lured by cheap fuel – sources
SINGAPORE/SEOUL (Reuters) – South Korea’s Samsung Total Petrochemicals Co has revived a contract to buy Iranian oil after a year’s hiatus, as thin margins in plastics make the cheap fuel from Iran hard to resist, people familiar with the deal said on Friday. Stringent U. S. and European sanctions aimed at reducing Iran’s oil income and forcing Tehran to curb its nuclear program have made shipping and paying for the oil hard, halving the Islamic Republic’s crude exports. . . .
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