Japan Aug crude imports from Iran fall 66.8pc

TOKYO: Japan's crude oil imports from Iran in August fell 66.8 percent from a year earlier to 497,961 kilolitres (101,035 barrels per day), the trade ministry said on Friday, following a one-month hiatus in acceptance in July in light of European Union sanctions.

Japanese buyers stopped lifting Iranian crude in early June, so vessels sailing the final part of their journey to Japan would be covered by insurance in early July.

Armed with a sovereign guarantee, Japanese buyers resumed loading Iranian oil in late July, with the oil arriving in Japan in August.