Japan says likely to avoid U.S. sanctions on Iran

By REUTERS
February 29, 2012 13:01

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

TOKYO - Japan will likely avoid US sanctions against Iran as it is continuing to reduce imports of Iranian oil, Foreign Minister Koichiro Gemba said on Wednesday.

The sanctions, aimed at pressuring Tehran to prevent its nuclear program being used to make weapons, will punish financial institutions that deal with Iran's central bank, the channel for oil transactions.

A breach of the sanctions could result in companies being shut out of the US market, which could prevent Japan's biggest banks from operating in the world's largest economy.

Japan has been in talks with Washington to obtain a waiver, which can be granted if there is a significant cut in trade with Iran. Tokyo had already cut its oil imports from Iran by 40 percent over the past five years, and is offering to make further cuts.

Related Content

Breaking news
August 17, 2018
U.S. says no rebuilding funds for Syria until peace talks underway

By REUTERS