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Oil sanctions on Iran will jerk world economy

Published Updated

imaasdfgISLAMABAD: The Japanese ambassador to Tehran has said that imposition of sanctions on Iran's oil industry will negative affect the economic situation of the world in general and Japan in particular.

Ambassador Kinichi Komano in an interview to the Mehar News Agency said that more than 30 Japanese firms have representative offices in Iran.

"All these companies are among large Japanese firms which have representative offices around the world, and hence these companies have representative offices in the United States."he added.

"It should be stated clearly that these companies have more trade interactions with the United States than Iran, and therefore, these centres should take the interests of the entire country into consideration.

Therefore, the law which has been newly ratified in the US has made the situation difficult for Japanese firms," he stated. Kinichi added, "On the other hand, Iran is regarded as a very important country and as Japan's friend.

And we have now told the United States that oil sanctions on Iran should not have a negative impact on the economic situation of the world and Japan."

"You are aware that economic situation in Europe is not very good. Japan's economic situation is better than Europe, but Japan's most important nuclear power plant in Fukushima was damaged in the tragic tsunami disaster and cannot be reconstructed.

"So this unpleasant incident compelled the government to examine other power plants in Japan, and for this reason, operations at a number of other nuclear plants have been suspended, and Japan is facing electricity shortages.

Copyright Reuters, 2012
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