Iran, Japan to resume banking ties: Envoy

Japan will resume bilateral banking relations with Iran as several Japanese refiners loaded Iranian oil in recent months before the US sanctions waiver window shuts down, the country’s envoy in Iran said.

IRNA- “Japanese companies that have been actively engaging with Iran over the past months, continued their presence in the country,” Japanese Ambassador Mitsugu Saito told Abadolnaser Hemmati, Governor of Central Bank of Iran (CBI) in Tehran on Tuesday.
The two officials discussed Iran oil payment clearance through Japanese banks as well as import of goods and humanitarian commodities.
They also agreed that a banking delegation from Iran travel 'soon' to Japan to work out and accelerate implementation of details of such mechanism.
The Japanese envoy welcomed the move and stressed that resumption of banking ties between Iran and Japan could usher in a 'new round of commercial and economic activities between Tehran and Tokyo.'
Japanese Showa Shell, Fuji Oil, Cosmo Oil and JXTG Nippon Oil & Energy were the first refiners to lift some five million barrels of Iranian heavy crude in January and February before the country’s 180-day sanctions waiver to purchase energy from Iran ends early May.
Head of the Japanese diplomatic mission in Tehran expressed hope that such oil purchases from Iran help expand economic ties between the two countries.

Publish Date: Feb 27, 2019