Japan Lifts Nuclear Sanctions on Iran

By John Lee.

Japan lifted its sanctions on Iran on Friday.

Chief Cabinet Secretary Yoshihide Suga (pictured):

“Japan would like to strengthen our cooperative relationship with Iran further and contribute to the peace and stability of the Middle East through our traditional friendly relationship with Iran.”

Reuters reports that Japanese companies, including those in the energy and insurance sectors, will be able to do business in the country. An investment agreement between Tehran and Tokyo is expected to be signed soon.

Suzuki Motors announced on Thursday that it was considering returning to the Iranian market.

Japanese oil refiners told Reuters last week they will keep using special government insurance to ship Iranian oil because of uncertainty over whether U.S. insurers can provide coverage.

(Sources: Reuters, IRNA)

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