Prior to that, Japan had explained that it would stop banking transactions with all financial institutions connected with Iran. Japan is preparing to end oil imports from Iran in about 3 months.

According to the Nikkei Asian Review published in Japan, Japanese energy companies have announced that the US will complete the oil imported from Iran by the end of October by the end of October.

Saudi Arabia and the United Arab Emirates are likely to be alternative suppliers to meet Japan’s oil needs.

The US administration, unilaterally pulled out of a nuclear deal signed with Iran, asked Japan to stop importing crude oil from Iran’s oil distribution companies like JXTG and Idemitsu Kosan until November 4th, when sanctions against Tehran will come into force. The Washington administration has threatened companies that have established relations with Iran since then.

Mitsubishi UFJ and Mizuho, ​​Japan’s largest banks, announced last week that they will stop banking operations with all financial institutions linked to Iran starting on August 12th.

According to the Japanese Ministry of Economy, Trade and Industry, Japan imported 211 thousand barrels of oil per day from Iran.