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25 January 2012 - 22:11

Japan says it will continue peaceful and diplomatic efforts to resolve the dispute over Iran's peaceful nuclear program despite EU member states adopting sanctions against the country's oil sector.

Japanese Prime Minister Yoshihiko Noda said Tuesday that Tokyo in principle “seek a peaceful and diplomatic solution” to Tehran's nuclear program.

The remark was made in reaction to EU foreign ministers agreement in Brussels on January 23 to impose sanctions on oil imports from Iran over the country's nuclear program.

The sanctions involve an immediate ban on all new oil contracts with Iran, a freeze on the assets of Iran's Central Bank within the EU and a ban on the sale of diamonds, gold and other precious metals to Iran.

“We will address the problem [Iran's nuclear case] in an appropriate manner, while cooperating with other countries and comprehensively considering the impact of the issue [imposing sanction on Iranian oil] on the global crude oil market and the Japanese economy," Noda said.

According to an EU diplomat, the ministers have agreed to delay the full implementation of the oil embargo until July 1, in order to protect Europe's economy, which is struggling with a two-year debt crisis.

Tehran has warned that the embargo will have negative consequences, such as the increase in the price of oil.
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News Code 181422