According to statistics from Korea National Oil Corp, a state-run institution, Seoul imported a total of 25.25 million barrels from Iran during the first four months of 2011, representing a 10% decrease from the 28.1 million barrels during the same period a year ago. The increase of imports in April accounted to 7.5 million barrels, a 42% rise from the same period last year.

“The increase in Iran crude oil imports in April might be because they are importing more in advance due to given notice about halting Iran crude oil imports,” Yoo Young-kook, senior analyst at KTB Investment & Securities Co, said, ” according to Arabian gazzette.

“Another scenario is that there might be an expectation that Iran sanctions will be resolved positively so the purchase is increasing,” he added.

There are  two South Korean oil refineries which import Iranian crude:  SK Energy and Hyundai Oilbank. According to reports, both refineries have annual deals to increase oil imports from Iran in 2012. SK Energy has stated it will stop importing Iranian oil in July when the European Union’s sanctions come into effect.

South Korea is the fourth-largest importer of Iranian oil. S. Korea is trying to make up for the losses by seeking deals with other Middle East countries like Saudi Arabia, the UAE, Kuwait, and Qatar, Arabiangazzete reported.

The US and the EU have imposed tough financial sanctions as well as oil embargoes against Iran since the beginning of 2012, claiming that the country’s nuclear energy program includes a military component.

Tehran refutes such acussations, insisting its nuclear program is for peaceful purposes.

The German magazine Der Spiegel reported the ship had loaded its cargo in Djibouti last week and changed course for Iskenderun in Turkey on Friday when the cargo was at risk of being uncovered. The ship stopped about 80km southwest of the Syrian port of Tartus, its initial destination, it said.

The search of its cargo was delayed until Thursday morning due to stormy weather, according to state run Anatolia news agency .

White Whale Shipping, the Ukrainian company that chartered the Atlantic Cruiser has denied  allegations that there were arms on board and said its cargo was civilian goods. Smuggling arms to Syria would be a violation of EU arms embargo.

The UN imposed a weapons embargo against Syria almost a year ago. During a U.N. Security Council briefing last month, the U.S and Britain accused Iran of  smuggling weapons to Syria which they said were being used against the civilians.

Iran and Syria have denied allegations of arms trade and last month, Damascus told the United Nations armed “terrorist groups” in Syria were receiving weapons from neighboring countries.

The route between Djibouti and Tartus is known as a path for transporting weapons, according to intelligence experts.

In January another ship out of Russia was stopped with munitions in Cyprus, but later continued its journey with the cargo to Syria after the captain declared he would head to a different port than initially planned.