Japan to Resume Crude Oil Imports From Iran

Japanese firms will continue buying crude oil from Iran with the maximum capacity possible before the end of the 180-day period during which it is exempt from new US sanctions on Iranian oil imports, president of the Petroleum Association of Japan said at a press conference in Tokyo.
Takashi Tsukioka said some companies and refiners in the world’s third largest economy are looking to resume oil imports from Iran, adding that the first shipments would take place before the yearend.
“We cannot predict what will happen after the deadline expires…But for now we know that oil loadings from Iran are to be heavy in January-March next year since Japan sees Iran as an important crude supplier,” Tsukioka noted.