TOKYO, July 19, 2018 (BSS/TASS) – Japanese oil companies are preparing
for a complete cessation of oil imports from Iran, Japan’s leading business
newspaper Nikkei reported on Thursday.
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.
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.
US President Donald Trump on May 8 announced the withdrawal of Washington
from the Joint Comprehensive Plan of Action (JCPOA), a deal that was
concluded in 2015 and limited Tehran’s nuclear development in exchange for
the abolition of relevant UN Security Council sanctions and unilateral
restrictive measures imposed by the United States and the European Union. He
promised not only to return within 90-180 days old sanctions, but also to
introduce new restrictive measures. Sanctions affecting Iran’s energy sector
will be resumed on November 4.