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Japan to decide on buying Iran oil within months

Staff Writer |
Japanese oil refiners will decide on buying Iran oil within months, president of the Petroleum Association of Japan (PAJ) Takashi Tsukioka said.

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“Japanese oil refiners will likely take a few months to decide policy on Iranian crude purchases in response to U.S. sanctions,” Reuters quoted Tsukioka as saying on Friday.

“Japanese refiners are gathering information and have not yet held talks with the Japanese or U.S. government,” he added.

Policy on import curbs will likely be decided over the next few months after taking into account the responses of other users of Iranian oil, including China, India, South Korea, France and Italy, he said.

U.S. President Donald Trump announced on May 8 that Washington would pull out of Iran nuclear deal and reinstate nuclear sanctions on Iran.

This is while most world powers including Russia, China, and European Union have repeatedly stressed that keeping the deal is in the interest of world peace and security.

“Given a 180-day wind-down period for buyers of Iranian crude to cut their purchases, the refiners will likely have to decide by August on the curbs, when buyers decide their nominations for October-loading Iranian oil cargoes,” he said.

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