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

CPEC-Project CPEC-Project
Featured3 hours ago

India vs Pakistan: Why Are India’s COVID-19 Cases Inflating While Pakistan Has Almost Overcome The Pandemic?

While India has literally been brought to its knees by the COVID-19 pandemic with almost 100,000 cases reported daily, the...

Sheikh-Mujibur-Rahman-Movie Sheikh-Mujibur-Rahman-Movie
Featured3 hours ago

India, Bangladesh, Agree To Enhance Border Patrol, Curb Border Killings

India and Bangladesh on Saturday agreed to launch joint border patrols to curb killings and crimes. in the border region....

INDIAN-ARMY INDIAN-ARMY
Featured6 hours ago

Has The Indian Army Captured ‘Pious’ Mount Kailash From China?

An image of the Indian Army soldiers near the sacred Mount Kailash is being shared on social media which is...

US-Drone-Strike US-Drone-Strike
Americas12 hours ago

US Looks To Replace Its Deadly MQ-9 Reaper Drones & Northrop Unveils A New ‘Breakthrough’ Concept

As the U.S. Air Force seeks a replacement for the MQ-9 Reaper drone, US defense giants Lockheed Martin, Northrop Grumman...

People's Liberation Army People's Liberation Army
Asia Pacific13 hours ago

Why China Again Wants To Seize ‘Despang Plains’ Just Like The 1962 India-China War?

The Chinese People’s Liberation Army (PLA) may be actually eyeing the Depsang plains while creating a diversion in Pangong Tso...

Moon-Space-Station Moon-Space-Station
Americas13 hours ago

WATCH: US Secretive Spaceplane That Was Dubbed To ‘Spy On China’s 1st Space Station’

A video of the US’ veiled spaceplane X-37B was posted by a twitter user showing the plane’s cargo bay doors...

Indian-Air-Force Indian-Air-Force
Asia Pacific14 hours ago

China Prepares For A Possible Invasion By Indian Air Force Jets Led By Su-30 MKIs & Rafales

Bracing itself for an aerial attack by the Indian Air Force (IAF) on its airbases, China has reportedly begun planning...

H6 BOMBERS-CHINA H6 BOMBERS-CHINA
Asia Pacific1 day ago

China Says PLA Drills Not Warning, But Rehearsal For Taiwan Takeover

Tensions between China and Taiwan have dangerously deteriorated as Beijing has vowed to merge the 'renegade province' at any cost....

Maldives Maldives
Asia Pacific1 day ago

Maldives Could Relinquish Control Of An Island As Chinese Loan & Pressure Mounts?

The Maldives government is now alarmed at the amount of debt it owes to China. With the coronavirus pandemic, the...

j20-vs-tejas j20-vs-tejas
Expert Reviews1 day ago

Chinese J-20s Outgun Rafale Jets In Simulation Drills But What Will Happen In A Real-Life Air Battle?

China has been trying to intimidate India with its fifth-generation, stealth, J-20 fighter jets with the indigenously produced warplanes shooting...

Advertisement