BREAKING NEWS

Media: Japan to win exemption from US sanctions

By REUTERS

FEBRUARY 21, 2012 01:03

TOKYO - Japan is likely to win an exemption from US sanctions by reducing Iran crude imports by at least 11 percent per year, the Yomiuri newspaper said on Tuesday.

The two countries had reached an agreement at talks last week, with the formal deal expected by the end of this month, the report said, citing unnamed sources.

Japan has been under pressure from the United States to cut back on Iranian oil imports to secure a waiver from a US law imposing sanctions on financial institutions that trade with Iran's central bank.

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