TRUMP: Japan to Suspend Iran Oil Imports Over US Pressure
Japan to Suspend Iran Oil Imports Over US Pressure – Reports
SPUTNIK – Japan’s major oil companies are preparing to halt all of the crude oil imports from Iran in October due to fears Washington will sanction countries importing Iranian crude, AFP reported Monday, citing Jiji Press agency.
According to AFP, Tokyo has been seeking a waiver that would allow it to continue importing Iranian oil, however, it appears unlikely to win one. “We’ve been saying we will observe a government decision [on Iranian oil imports], but we can’t comment further as we don’t disclose information on individual trades,” a spokeswoman for wholesaler Showa Shell Sekiyu told AFP on Monday.
© AFP 2018 / ATTA KENARE
In August, Japan’s Trade Minister Hiroshige Seko said that Tokyo would hold further negotiations with the United States to be granted exemptions from recently reimposed sanctions against Tehran and its trade partners.
According to local media, Japanese major oil companies, however, are researching ways to increase imports from elsewhere to make up the shortfall. Crude oil imports from Iran reportedly accounted for just 5.3 percent of the country’s total imports but Japan relies heavily on oil supply from the Middle East for its energy security.
© SPUTNIK / SAID TSARNAEV
The US administration in May withdrew from the 2015 nuclear deal with Iran, which eased restrictions on the Islamic Republic. Washington has said sanctions on oil trade would be back by November 4 and also urged foreign firms to phase out operations in Iran or face sanctions.
—— AUTO – GENERATED; Published (Halifax Canada Time AST) on: September 03, 2018 at 12:56AM