Trafigura denies involvement in North Korea oil transfer

Seoul

TRAFIGURA Group denied it was involved in the illicit transfer of fuel to North Korea after the South Korean government said the world's third-biggest independent oil trader originally owned a cargo that was shipped in breach of United Nations sanctions in October.

The accusation could spook international traders in the region worried their oil and refined products could find their way to North Korea. In turn, that could increase the pressure on Pyongyang, making it more difficult and expensive for the rogue regime to buy fuel in the face of international sanctions.