The US decision to scrap sanctions waivers for Iranian oil imports will have a limited effect on Japan, as the country's purchases from the Islamic republic have already been at a low level, local media reported on Tuesday, citing Hiroshige Seko, the Japanese minister of economy, trade and industry
TOKYO (Pakistan Point News / Sputnik - 23rd April, 2019) The US decision to scrap sanctions waivers for Iranian oil imports will have a limited effect on Japan, as the country's purchases from the Islamic republic have already been at a low level, local media reported on Tuesday, citing Hiroshige Seko, the Japanese minister of economy, trade and industry.
The White House announced on Monday that the United States would end its sanctions waivers for importers of Iranian oil starting from May 2. Japan, as well as Greece, Italy, Taiwan, China, India, Turkey and South Korea were among those that received six-month waivers from oil sanctions in November. Washington wants all importers to eventually cut their oil sales from Iran to zero as part of maximum sanctions pressure on the Islamic Republic, triggered by the US decision to unilaterally leave the 2015 Iran nuclear deal.
According to the Kyodo news agency, Seko noted at a press conference that Iran's share in Japan's oil imports had already plunged to some 3 percent. He, however, said that Tokyo would monitor oil prices and consult with Washington on the issue if necessary.
Chief Cabinet Secretary Yoshihide Suga, meanwhile, said that the government would "consider necessary steps to make sure that energy supply to Japan is not affected, by exchanging views with Japanese companies concerned," the media outlet added.
