Connect with us

Asia Pacific

Fearing US Sanctions, Japan To Suspend All Oil Imports From Iran

Published

on

Japan might soon to halt all oil imports from Iran fearing secondary sanctions from the US. Japan’s major oil corporations are set to suspend all oil imports from Iran by the end of October. The US had asked all nations to cease oil imports from Tehran by November warning them that they would be liable to the same economic sanctions as Iran if they don’t do so.

As reported by Sputnik News, Japan has given up on the hopes of winning a waiver from the US which will allow it to continue oil imports from Iran. South Korea, India and others too have been trying to persuade the US for waivers on Iranian oil imports.

The first set of US sanctions on Iran came to effect in August and the set of sanctions targeting Iran’s oil exports will come to effect in the month of November. The US has vowed to bring Iran’s oil business to zero in the wake of a major economic tirade with Tehran.

According to the local Japanese media, the major oil firms in Japan have already begun their research upon other alternatives to Iran so as to compensate for the shortfall. Japan had been trying to negotiate with the US to seek an exemption from sanctions but that has not gone well as the US looks adamant.

Japan is heavily dependant on oil supplies from the Middle East to ensure its energy security. Iran is a significant contributor to the energy needs of the Asian nations including Japan, China, and India. India and China are among the top importers of Iranian oil.

The US after withdrawing from the Iran Nuclear Deal in 2015 had warned all nations for continuing to import oil from Iran even after the November deadline. Fearing sanctions, most of the nations might end up giving up on their oil imports from Iran.

More News at EurAsian Times

Advertisement
Advertisement

Facebook

FEATURED

US-China-Trade-War US-China-Trade-War
Asia Pacific55 mins ago

Chinese Navigation System Beidou Has Surpassed US’ GPS In Over 165 Countries : Reports

The vanguard of navigation systems, the US’ Global Positioning System (GPS), is losing its dominance to China’s Beidou satellite navigation...

putin-russia putin-russia
EurAsian Region2 hours ago

Russia Ready For Doomsday, Its ‘Deeply Buried’, Underground Nuclear Command Bunker Is Almost Complete

In a high-profile meeting held at the Kremlin on 11 November, Russian President Vladimir Putin discussed the completion of a...

CHINA-TANKS CHINA-TANKS
Americas2 hours ago

TANK FOR SALE: A Grizzly Variant of Sherman Tank Goes Under The Hammer, Fetching Up To $500,000

Yes, a 1943 M4A1 Grizzly, an adaptation of the Sherman medium tank that was built in Canada in late 1943,...

jet jet
Featured3 hours ago

Why AMRAAM-ER, The World’s Most Powerful Beyond Visual Range (BVR) Missile Can Be A Game Changer In The Middle-East?

 The Middle East is clearly witnessing an arms race. The United Arab Emirates (UAE) will soon become the first country...

INDIA-USA-CHINA INDIA-USA-CHINA
Featured5 hours ago

China Adopting US’ “Disruptive Strategy” Against India As Ladakh Border Tensions Remain Unresolved

India is one of the worst-hit countries by the Covid-19 pandemic, with its economy entering a ‘technical recession’ phase. The...

TAIWAN-CHINA TAIWAN-CHINA
Asia Pacific5 hours ago

Taiwan Counters Chinese Threats By Inaugurating Indigenous Submarines That Will Be Equipped With Deadly Harpoon Missiles

In a bid to safeguard the island territory from mainland China, Taiwan’s President Tsai Ing-wen vowed to protect the sovereignty...

Featured6 hours ago

Israel Wants Pakistan’s Nuclear Teeth Broken & Saudi Arabia Could Land The First Punch

OPED By Haider Abbas

nato nato
Americas15 hours ago

The Wrong Move: NATO Chief Warns Of ‘Imminent Threats’ Of Pulling-Out From Afghanistan

Speaking at the virtually held 2020 Afghanistan Donors’ Conference, NATO Secretary-General Jens Stoltenberg said the mission had already significantly ‘adjusted’...

f-35-f-22-usa f-35-f-22-usa
Expert Reviews15 hours ago

Battle Of Stealth Brothers: Why US’ F-22 Raptors Can Decimate F-35 Jets In One-On-One Encounter?

Amid the race to built sixth-generation fighter jets by a host of countries including the United States, the United Kingdom,...

f35 f35
Americas17 hours ago

Lockheed Martin Awarded Contract To Integrate AARGM-ER Missiles With USAF’ F-35A Jets

The US Air Force is moving closer to the integration of an advanced air-defense busting missile to its newest F-35A...

Advertisement
Advertisement