Japanese importers of Iranian crude need US waiver to continue imports after Nov 4: PAJ chief
Japanese importers of Iranian oil will need US sanction waivers by November 4 in order to keep their imports, as the US targets to bring down Iranian exports to zero, president of the Petroleum Association of Japan said.
“We will have to take certain actions if things move as the US claims to make [Iranian oil] exports to be zero,” Takashi Tsukioka told a press conference in Tokyo.
Tsukioka said the refiners’ purchases of Iranian oil imports in August could be “the last” without securing the US sanctions waiver, as oil loaded after September would be subject to the sanctions. He added that October-loading barrels would be paid for in November.
US President Donald Trump said on May 8 that the US would withdraw from the Iran nuclear deal and re-impose sanctions that have been frozen since January 2016 as part of the Joint Comprehensive Plan of Action.
International buyers of Iranian oil have until November 4 to wind down contracts before the US re-imposes sanctions on the oil, energy, shipping and insurance sectors, a US Treasury Department fact sheet showed.
The US will also consider allowing countries to continue importing Iranian crude oil, as long as they demonstrate that they are significantly reducing those volumes every 180 days, the fact sheet showed.