Cutting off Iranian oil imports has put Tokyo in a difficult position. The United States and its European allies have already agreed to up the ante on sanctions against Iran, but the domestic costs that Japan has to bear in order to cooperate are higher.
Prime Minister Yoshihiko Noda’s government has indicated its desire to cooperate, and last December the Ministry of Foreign Affairs announced new restrictions on the operations of 106 entities as well as one individual with potential links to proliferation-sensitive activities in Iran. But the real effort now is to reduce Japan’s oil imports from Tehran, and to negotiate an exemption from more stringent restrictions on Japanese banks included in the new U.S. sanctions law. Read more »