(MENAFN) Japan decided to decrease its imports of Iranian crude oil further 30 percent for the rest of this year compared with a year earlier, Reuters reported.
According to official data, Japan's crude imports from Iran dropped 66.8 percent to 101,035 barrels per day (bpd) in August compared to a year earlier.
The President of the Petroleum Association of Japan (PAJ) Yasushi Kimura explained that the sharp drop was caused by certain shipping arrangements and should be considered an exception.
Japan had a one-month room in acceptance in July in light of European Union sanctions on the Islamic Republic over its controversial nuclear programme.
How much Japan buys beyond December will depend on geopolitical and economic situations at the time when each buyer decides on next annual contracts with Iran, he said.
Kimura, who also serves as chairman of Japan's top oil refiner, JX Nippon Oil & Energy Corp, said his company has covered a drop in supply from Iran with crude from other countries in the Middle East and extra condensate imports.
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