AJC Welcomes Japan Pledge to Cut Iran Oil Imports

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Jan 12, 2012, 11:46 ET

NEW YORK, Jan. 12, 2012 /PRNewswire-USNewswire/ -- AJC welcomed Japan's pledge to reduce its oil imports from Iran. The commitment came in a meeting between Japanese Finance Minister Jun Azumi and U.S. Treasury Secretary Timothy Geithner in Tokyo.

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"As Iran's second biggest oil customer, Japan's action will be particularly significant," said AJC Executive Director David Harris. "Iran's leaders must recognize that the international community is determined to impose crippling economic and financial sanctions to stop Tehran's nuclear weapons program."

Japan imports about ten percent of its oil from Iran, and already has begun to explore increasing the flow from other oil-producing countries.

European leaders are expected to meet in Brussels on January 23, and approve a plan for all 27 EU member states to end their imports of Iranian oil. The EU accounts for 18 percent of Iranian oil exports.

Harris praised the Obama Administration for following up with other nations after the president signed, on December 31, a law that ends all U.S. dealings with Iran's Central Bank and with foreign entities that do business with the bank.

Increasing support for sanctioning Iran's banking and energy sectors also comes in the wake of IAEA confirmation this week that Iran has begun enriching uranium up to 20 percent, a major step towards making uranium weapons-grade, and following the IAEA's devastating November report on Iran's nuclear program.

SOURCE American Jewish Committee