Experts say the fresh U.S. sanctions could affect Korean companies seeking to do business and invest in infrastructure and development projects in Iran.

Pressured by the dollar’s broad strength. the Aussie has slid despite an upbeat budget from the country’s government.

During the last round of sanctions. Iran'.s oil supplies fell by around 1 million barrels per day (bpd).

Ahead of official numbers. API data shows sizable declines in US crude inventories.

Trump’s decision ``also entails some economic policy challenges in the form of potentially higher oil prices.

After the last round of sanctions were announced in 2011. Saudi Arabia boosted its production.

The U.S. move threatens Iran with lower export income and less access to hard currency.

Over 1.053 domestic and 600 foreign companies from 37 countries are attending the three-day event.

Imports for the first four months of 2018 rose 8.9 percent versus the same period a year ago to 151.43 million tonnes. or 9.21 million bpd.