S. Africa cuts Iran oil import ahead Clinton visit

AP News
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Posted: Aug 01, 2012 10:06 AM
S. Africa cuts Iran oil import ahead Clinton visit

JOHANNESBURG (AP) — South Africa cut all crude oil imports from Iran in June amid heavy European and U.S. sanctions over the country's nuclear program.

That's according to recent figures from the South African Revenue Service.

It's unclear whether this is a permanent decision by South Africa to stop importing Iranian crude, which has represented about 35 percent of all oil coming into the country in the last year. But it comes ahead of a visit by U.S. Secretary of State Hillary Clinton.

U.S. sanctions call for countries that trade for oil with Iran to be locked out of the U.S. banking sector. South Africa had a 180-day waiver to reduce its imports of Iranian oil, but that waiver has since expired.