Japan to reduce Iranian oil imports

Tokyo, Jan 12 (IANS) Japan Thursday said it was planning to reduce its oil imports from Iran in line with US sanctions on Iran for its nuclear development programme.

“In the past five years, we have reduced… the amount of oil imported (from Iran),” Finance Minister Jun Azumi said during a joint press conference with US Treasury Secretary Timothy Geithner Thursday in Tokyo.

We wish to take planned and concrete steps to further reduce this share, which now stands at 10 percent, added Azumi.

Geithner told the press conference that Japan is a “vital ally” for the US, and that the two countries will work closely together on the issue of Iran, reported Xinhua.