Japan’s imports of Iranian crude oil fell to zero in July for the first time since 1981, trade ministry data showed on Friday, as Iran’s No.3 oil buyer reined in its appetite to keep from falling afoul of European Union sanctions targeting insurance.
Tag: July
Sanctions cut Iran’s July oil exports to near 1 million barrels per day
Iran’s daily oil exports in July could fall below half the average shipped in 2011 before tough new Western sanctions stemmed the flow.
EU’s Iran Oil Sanctions To Take Effect On July 1
The European Union says its embargo on Iranian crude oil will take effect as planned on July 1. EU foreign ministers meeting in Luxemburg said in a statement that all contracts for importing Iranian oil will have to be terminated as of that date.