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South Korea will transfer $550 million to Iran in its first back oil payment under an interim nuclear deal that eases sanctions on Tehran, sources with direct knowledge of the matter said Thursday.Under the November pact, Iran won access to $4.2 billion of its oil revenues frozen abroad in eight money transfers scheduled through July, pending confirmation it is carrying out its promises to curb its nuclear program.Iran will soon receive a second installment of previously frozen oil monies under the interim nuclear agreement, the official IRNA news agency reported Thursday, citing the country's central bank chief.Iran's top four oil clients – China, India, Japan and South Korea – together cut oil imports from Iran by 15 percent to an average of 935,862 barrels per day in 2013, government and industry data showed.
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