Japanese Finance Minister Jun Azumi announced today that Japan will start to reduce oil imports from Iran in support of the new US sanctions. Azumi made the comments after a meeting with visiting US Treasury Secretary Timothy Geithner.
“(Iran's) nuclear development problem can't be ignored by the world, so from that perspective we understand the US actions,” Azumi told a press conference after the meeting with Geithner [AP, 12 January].
Japan now imports about 10 percent of its oil from Iran, and the country has been steadily reducing its reliance on Iranian oil over the last five years.
“We plan to start reducing this 10 percent share as soon as possible,” Azumi said.