Hi Dmitry,
I have used olive oil on iron surfaces for more than 30 years; unfortunately I did not take any before/after photos.
I can assure you though that the iron will feel a bit sticky for about six weeks but will be dry and stable afterwards. The only effect visible is a light yellowish color and a somewhat reduced iron shine.
I usually apply a new layer every two years using a linen cloth soaked with native olive oil. This way the iron will acquire a nice and stable light yellowish 'arsenal care' finish.
Best,
Michael
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