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Japan Refuses To Ban Iranian Oil Import

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Japan the country with third largest economy has refused to impose ban on Iranian oil.Japan foreign minister while his visit to USA made it clear to the American government that it will not impose any ban on Iranian oil as the country has no fossil fuel of its own and the country has to emphasis on other countries for the oil.If import of oil is made from other countries it will cost them allot .He further said that if the import of oil is stopped from Iran it will effect entire Global economy which is not a good sign.Keep in mind that America has imposed ban on the import of Iranian oil after international nuclear agency accused Iran of purchasing Iranian oil.
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