U.S. Secretary of State Mike Pompeo has said that Washington will decide "in due course" on whether it will extend waivers for countries seeking to import oil from Iran.<br />The top U.S. diplomat mentioned that the waivers granted to South Korea and seven other countries will expire on May second.<br />The U.S. has been placing sanctions on Tehran after withdrawing from the 2015 Iran nuclear deal last year.<br />South Korea is closely monitoring the issue, as the expiry of the waiver would deal a major blow to the local economy.<br />Korean companies rely heavily on Iranian condensate to produce petrochemical products. <br />
