S.Korea says to halt Iran oil imports from July 1

South Korea said on Tuesday that imports of Iranian crude oil would be halted from July 1 due to an EU ban on insurance cover on tankers carrying Iranian crude, making Korea the first of Iran's major Asian customers to halt oil purchases.

"South Korea's imports of Iranian oil will be suspended, as the EU will suspend crude imports from Iran and also halt its insurance and reinsurance cover on the crude imports from July 1," a joint statement from the economy, finance and foreign affairs ministries said. (Reters)