Japan could cut Iranian oil import due to US sanctions


Japan could cut Iranian oil import due to US sanctions

Japanese oil refiners may have to stop loading Iranian crude oil from October 1 if Japan’s government does not secure an exemption from US sanctions to allow imports to continue, the president of the Petroleum Association of Japan (PAJ) said on Friday.

If payments to Iran cannot continue after a 180-day “wind-down period” ending on November 4, it is possible that Japanese buyers of Iranian oil will have to make their last order for Iranian oil in August for September-loading cargoes, said Takashi Tsukioka, who is also chairman of Japan’s second-biggest refiner, Idemitsu Kosan Co.

That is because the payment for October-loading cargoes would be made in November, he told a monthly news conference on Friday. Read More

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