Japan's crude imports from Iran drop as sanctions bite
An employee cleans as a sign reading ''out-of-stock'' is displayed at a gas station in Tokyo March 18, 2011./ (Reuters) - Japan's customs-cleared crude imports from Iran fell 6.3 percent in March from a year ago, ahead of a sharp drop expected in April and May due to difficulty in doing business with the Islamic Republic amid tighter Western sanctions. The drop last month comes even after the United States exempted Japan and 10 EU nations from financial sanctions as they had significantly cut purchases of Iranian oil. Soon after receiving ...
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