Publishe Date: 1:32 AM - 11/2/2013 | Print

Japan Boosts Oil Imports from Iran by 35% despite West's Sanctions

Economy - Japan’s oil imports from Iran witnessed a 35 percent growth in September despite the western sanctions on Iranian oil, the Japanese ministry of economy announced.

According to the data released by the Japanese ministry of economy on Friday, Japan imported 252,216 barrels per day (bpd) of Iranian oil in September which shows 35% growth in comparison with the country's oil imports in the corresponding of last year, Reuters reported.

Japan, China, India and South Korea are among the main importers of Iran’s crude exports, which they need to meet their energy demands.

Since the beginning of 2012, the United States and the European Union have imposed illegal sanctions on Iran's oil and financial sectors with the goal of preventing other countries from purchasing Iranian crude and conducting transactions with the Central Bank of Iran. The sanctions entered into force in early Summer 2012.

On October 15, 2012, the EU foreign ministers reached an agreement on another round of sanctions against Iran.

The illegal US-engineered sanctions have been imposed based on the unfounded accusation that Iran is pursuing non-civilian objectives in its nuclear energy program.

Iran says its nuclear activities are entirely peaceful, arguing that as a committed signatory to the Non-Proliferation Treaty (NPT) and a member of the International Atomic Energy Agency (IAEA), it has the right to use nuclear technology for civilian purposes.

 

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