BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
COOKIE NOTICE

Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Oil

Japan seeks to avoid harmful impact from US sanctions on Iran: METI minister

Energy | Thermal Coal | Electric Power | Emissions | LNG | Natural Gas | Oil | Crude Oil | Refined Products | Shipping | Tankers

Market Movers Asia, June 17-21: Energy security cooperation in focus at G20 meet after tanker attacks

Electric Power

Platts M2MS-Power

Natural Gas | Oil | Refined Products | Shipping | Marine Fuels | Tankers

Bunker and Residual Fuel Conference, 16th Annual

Agriculture | Grains

La cosecha de soja de Argentina, finalizada al 98,5%; previsto un aumento de las exportaciones del 267% interanual

Japan seeks to avoid harmful impact from US sanctions on Iran: METI minister

Tokyo — Japan remains committed to avoiding any harmful impact from US sanctions on Iran, as it sees the Middle Eastern oil producer important for the country's supply security, Minister of Economy, Trade and Industry Hiroshige Seko said Friday.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

"Japan's relationship with Iran, as one of the world's leading oil producing countries, is important as the country relies on almost all of its petroleum [needs] on imports," Seko said at a press conference in Tokyo.

While declining to comment on the state of Japan's talks with the US on Iranian sanctions, Seko said: "We intend to have close discussions with the US side in order to avoid having a harmful effect from the US measures on Japan's stable energy supply and its corporate activity."

Japan is one of eight countries that received a 180-day exemption from US sanctions on Iranian oil imports. The sanctions waiver is set to expire May 2.

Amid a lack of clarity over US' extension of the current sanctions waiver, Japanese refiners completed their imports of Iranian oil by mid-April.

Refiners Idemitsu Kosan, Showa Shell and Cosmo Oil said April 10 that they had yet to decide on their Iranian oil imports, following the latest US-Japan talks on Iran sanctions in Washington on April 8. Fuji Oil, a major Japanese buyer of Iranian oil, said then it will consider procuring Iranian crude both on a term and spot basis if Washington extends its sanctions waiver to Tokyo beyond May.

In February, Japan imported 135,013 b/d of Iranian oil, marking the first imports in four months, down 25.1% year on year, according to METI data.

Iranian Heavy crude accounted for 86.8% of the total Iranian oil imported in February, when Japan also took 249,139 barrels of Soroosh, marking the first imports of the grade since May 2016.

-- Takeo Kumagai, takeo.kumagai@spglobal.com

-- Edited by Haripriya Banerjee, newsdesk@spglobal.com