The Japanese government which is largely dependent on Middle Eastern oil with 14 percent of total oil imports coming from Iran said it will oppose United Nations sanctions on Iran's energy sector.
Tehran faces the risk of sanctions if it doesn't abide by the UN Security Council resolution calling for a halt to their uranium enrichment program.
A ban on Iranian oil exports would adversely affect both Iranian and global economies. The Japanese governmemt hope sto avoid losing Iranian oil supplies and is likely to propose that financial sanctions be imposed first and the oil embargo later.
Japan's position could put it at odds with the United States, a close ally, which has worked with Japan to punish North Korea for its nuclear drive and missile tests. Japan has resisted calls from the U.S. to suspend development of Iran's largest onshore oil field.
Iran has said that it will respond to the incentives offered to it by major powers for stopping its uranium enrichment by Tuesday.
Leave a comment