Japanese refineries have put a halt on imports of Iranian oil after buying 15.3 ...
TOKYO - Japanese refineries have put a halt on imports of Iranian oil after buying 15.3 million barrels between January and March ahead of the expiry of a temporary waiver on U.S. sanctions, according to industry sources and data on Refinitiv Eikon.The waiver, which allowed Japan to buy some Iranian oil for another 180 days, expires in early May. However, Japanese refiners want to ensure enough time for all cargoes already loaded to arrive in Japan and for payments to be completed.
The United States last year demanded that nations cut all Iranian oil imports when it reimposed sanctions on the country’s petroleum sector on Nov. 4 over Tehran’s nuclear program. Japan has loaded 15.3 million barrels of Iranian crude in the first three months this year, which is equivalent to 86,430 barrels per day during the six-month waiver period, according to Refinitiv data and Reuters calculations.
Japan has increased imports from the Middle East, Russia and the Americas as its Iranian imports fell, according to government data.
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