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Japanese Oil Wholesalers ‘Prepare To Suspend’ Iranian Imports

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Cargo vessel

A cargo vessel. Photo: Wikimedia Commons.

Japanese news media are reporting that the country’s major oil wholesalers are preparing to suspend crude imports next month.

Jiji Press agency and Kyodo on September 3 reported that the action comes in response to U.S. sanctions against Tehran and threats they could be extended to companies doing business with Iran.

U.S. President Donald Trump in May pulled out of the 2015 nuclear deal with Iran and almost immediately began reimposing sanctions against Tehran.

Washington has said it will reimpose sanctions on Iran’s oil exports and banking sector in early November, with the goal being to bring other countries’ imports of Iranian oil down to zero.

Jiji Press said it appeared Japan will be unsuccessful in its efforts to get a waiver from Washington that would allow it to continue importing oil from Iran.

That has forced Japanese oil companies to prepare to suspend Iranian imports and look for ways to switch to other Middle East producers, Japanese media report.

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Copyright (c) 2018. RFE/RL, Inc. Reprinted with the permission of Radio Free Europe/Radio Liberty, 1201 Connecticut Ave NW, Ste 400, Washington DC 20036.

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