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Japan negotiates exception to import Iranian oil with U.S.

Staff Writer |
Despite the sanctions imposed on Iran by the United States, Japan is negotiating with representatives of the U.S. government to continue to import oil from the Persian nation.

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The Japanese minister of Economy, Trade and Industry, Hiroshige Seko, said on Tuesday that his country is seeking an exception to buy oil from Iran, NHK reported.

In statements to local media, Seko explained that Tokyo had informed the United States about its stance, whose basic principle is preventing that the sanctions on Iran affect power supply and business in Japan.

In 2017, Japan, Asia's fourth largest importer of Iranian products, met 5.3 percent of its oil demand with imports from that Middle Eastern nation, according to statistics from the Japanese Ministry of Economy, Trade and Industry.

The sanctions on Iran, lifted by the United States after the signing of the 2015 nuclear agreement, were enforced again on August 7 by virtue of an executive order from President Donald Trump.

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