Japan set to prepare for resuming Iran oil imports

Japan set to prepare for resuming Iran oil imports

Japanese buyers of Iranian crude are expected to prepare for resuming oil imports from Tehran after the country was granted a waiver from U.S. sanctions, Japanese trade minister Hiroshige Seko said.

“It would be up to the judgment of private firms, but based on this decision, the (Japanese) companies would likely prepare for resuming Iran crude imports,” Reuters cited him as saying.

Asked whether any cuts in imports would become necessary, Seko said: “I cannot comment on import volumes.”

The minister also declined to comment on whether Japanese imports would fall to zero after the 180-day exception period expires, saying that would depend on future negotiations between the two nations.

Seko said that Washington took into account stable energy supply and the impact on Japan firms in granting a waiver, adding that Japan will continue to exchange views closely with the United States.

The Japanese Foreign Ministry said that Tokyo should quickly create financial settlement mechanisms with Iran in connection with the U.S. decision to exclude Japan and seven other countries from the effect of Washington's oil sanctions against Iran.

"Taking into account this decision, it is necessary to create methods of financial settlements with Iran as soon as possible. To that end, we intend to energetically address this issue together with the interested structures," Sputnik cited the ministry as saying.

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