In the beginning stages of an effort to lobby for international support for the sanctions against Iran to put pressure on this country to abandon its nuclear program, U.S. Treasury Secretary Timothy Geithner met with officials in Japan and China. While Japan's finance minister promised to take steps to reduce Iranian oil imports, Chinese officials did not give any sign they would comply with the sanctions.

One week later, a senior�U.S.�official urged South Korea on Tuesday�to reduce its crude oil imports from Iran to put pressure on Tehran over its nuclear program.

The U.S. State Department's adviser for non-proliferation and arms control, Robert Einhorn also urged Seoul to �unwind� its financial dealings with Tehran's central bank.

South Korea has blacklisted 231 Iranian firms and restricted financial dealings with them, but it hasn't yet announced plans to cut oil purchases from Iran.

Although South Korea is a close ally of the United States, it is also the world's fifth-largest oil importer and its economy is largely dependent on the importing of Iranian oil, so Kim Jae-shin, South Korea Foreign Minister replied U.S strong urge to cut oil imports from Iran and unwind financial dealings with Tehran's central bank, by stressing South Korea's support for international efforts to resolve the nuclear issue but also highlighting fears of economic damage.

He stated that �many in South Korea are quite worried that further strengthening sanctions against Iran at this time may destabilize international markets of crude oil and accordingly bring about some adverse effects on the Korean economy, as well.�

But Einhorn said he believes the U.S. can put pressure on Iran while maintaining the stability of the international oil market.

It is recommended that U.S. and its allies who support U.S sanctions on Iran refer to Chatham House, the U.K.�s most authoritative foreign affairs think-tank, which believed that �oil embargoes simply do not work.�

�History is littered with failed oil embargoes ranging from Cuba, Rhodesia and South Africa to the Arab oil embargo and the embargo against Iraq after 1990,� Chatham House said.

 

Sources: USA Today, VOA, The Australian, The Wall Street Journal�