Iran oil imports to Japan cease as waiver nears

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Title : Iran oil imports to Japan cease as waiver nears
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Japanese refiners ended all imports of Iranian oil as the expiration date for a temporary waiver on US sanctions on Iran nears, according to a Reuters report on Friday.

Japan resumed imports of Iranian oil in January following its waiver from US sanctions on crude imports beginning in November 2018. The waiver, which permitted imports of Iranian oil for another 180 days expires in early May.

"We think it would be difficult to keep on lifting Iranian oil after March," a Fuji Oil spokesman said, according to Reuters. The spokesman explained that the company is halting imports well before the deadline to ensure that deliveries and payments are completed beforehand.

Other of Iran's largest oil importers also received a temporary waiver from the US, including China, India, South Korea, Taiwan, Italy, Greece and Turkey.

Iranian oil comprised 5.3 percent of Japan's crude imports as of 2017. Japan has been increasing oil imports from Russia, the Americas and other Middle Eastern countries in the wake of the US sanctions.

US President Donald Trump announced in May 2018 that the US was reimposing sanctions on Iran as well as withdrawing from its 2015 nuclear reduction agreement with the US nemesis.

Iran oil imports to Japan cease as waiver nears

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Iran oil imports to Japan cease as waiver nears

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