Japan cuts Iran oil imports over nuke crisis

Plans by Japan’s top oil company to slash crude imports from Iran reflect growing concern that the Islamic republic’s supply is at risk as the nuclear crisis deepens, analysts said Thursday, AFP reported.

The move by Nippon Oil is bound to get the attention of Iran’s hardline leadership, but it is doubtful it will immediately influence Tehran so long as the country has ample buyers elsewhere, they added.

..Asia’s largest economy is nearly entirely dependent on foreign oil. It is Iran’s biggest oil customer, buying around a quarter of its exports, although it buys more in total from Saudi Arabia and the United Arab Emirates.

IranMania