Japanese oil companies are preparing for a complete cessation of oil imports from Iran, Russian TASS quoted a Japanese newspaper as saying.
According to the Nikkei newspaper on Thursday, 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 backdrop, Japanese banks notified national oil companies that they are stopping settling transactions related to Iranian oil, which makes its purchase almost impossible.
The United Stated government has called on world countries for a complete halt to oil imports from Iran by October after its illegal unilateral withdrawal from the nuclear deal also known as the Joint Comprehensive Plan of Action (JCPOA).
The other signatories to the JCPOA, namely Russia, China, the UK, France and Germany, have strongly objected to the US’s withdrawal, and vowed to make every effort to preserve the deal by providing a mechanism to safeguard Iran’s economic interests.