South Korea takes heed of US sanctions on Iran

The Central Bank of Iran — Ensie & Matthias/Flickr

Central Banking Newsdesk
16 Dec 2011

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The South Korean government on Friday issued a warning to companies doing business with Iran's petrochemical industry that they may face "disadvantages" when doing business with the US.

The government also called on local importers of Iranian petrochemical products to "take extra caution regarding the issue".

The warning came after the US Senate passed the National Defense Authorization Act for Fiscal Year 2012, on Thursday afternoon, which includes new sanctions aimed at the central bank.

The

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