S. Korea gets U.S. green light for license-based humanitarian exports to Iran

South Korea has won U.S. approval for the resumption of humanitarian exports to Iran under a particular license program, with shipments likely to begin next month, Report says, citing Yonhap Agency.

"On April 6, Seoul received the green light for the exports based on the U.S. government's General License No. 8 -- a mechanism to authorize certain humanitarian transactions with Iran even if they involve Iran's central bank subject to U.S. sanctions."

But to export medicine, medical equipment, and other humanitarian products, companies and related financial institutions should undertake "enhanced due diligence" to ensure the exports will go to Iranians in need rather than being diverted by the Tehran government.

"On April 6, the humanitarian export process based on the General License No. 8 got underway," the official told reporters on condition of anonymity.

"Our companies and banks should prepare documents needed to carry out enhanced due diligence, and we think that the shipments may begin about a month later," he added.