Japan halts imports of oil from Iran

Japan halts imports of oil from Iran

Japanese oil companies are preparing for a complete cessation of oil imports from Iran, Japan's leading business newspaper Nikkei reported.

According to the newspaper, oil supplies from Iran should be completely stopped by October. Alternative suppliers include Saudi Arabia and the United Arab Emirates. Japanese suppliers of Iranian oil - JXTG Holdings and Idemitsu Kosan - received a warning from the US about the need to completely stop imports by November 4, 2018, when Washington plans to resume sanctions against Tehran. If the purchases of Iranian oil continue, the US threatens to impose penalties on these companies, TASS reported.

Against this background, Japanese banks notified national oil companies that they are stopping settling transactions related to Iranian oil, which makes its purchase almost impossible.

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