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INTERNATIONAL > Middle East

Japanese oil distributors set to halt imports of Iranian oil

  • July 19, 2018
  • , Nikkei
  • JMH Summary

Nikkei led with a report saying that Japanese oil distributors are preparing to suspend imports of Iranian crude oil as requested by the U.S. In response, Japan’s major banks and maritime shippers notified oil distributors that they may stop conducting business with Iran. The paper wrote that oil imports from Iran are expected to fall to zero as early as October and that oil distributors will seek imports from Saudi Arabia and other nations as alternative suppliers, adding that a switch in suppliers could lead to a further increase in gasoline prices in Japan.

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