JAPAN: Japan pledges to steadily reduce oil imports from Iran in support of U.S. sanctions on Tehran after meeting with U.S. Treasury Secretary Timothy Geithner

Record ID: 466110

  • Title: JAPAN: Japan pledges to steadily reduce oil imports from Iran in support of U.S. sanctions on Tehran after meeting with U.S. Treasury Secretary Timothy Geithner
  • Date: 13th January 2012
  • Summary: TOKYO, JAPAN (JANUARY 12, 2012) (REUTERS) JAPANESE MINISTRY OF FINANCE BUILDING SIGN IN JAPANESE READING: "MINISTRY OF FINANCE" CAR CARRYING U.S. TREASURY SECRETARY TIMOTHY GEITHNER ARRIVING GEITHNER GETTING OUT OF CAR GEITHNER WALKING UP STAIRS INTO MINISTRY OF FINANCE JAPANESE FINANCE MINISTER JUN AZUMI AND GEITHNER WALKING OUT TO PODIUM CAMERAS FILMING NEWS CONFERENCE NEWS CONFERENCE IN PROGRESS (SOUNDBITE) (Japanese) JAPANESE FINANCE MINISTER JUN AZUMI SAYING: "Nuclear development is something that the world can't shut its eyes to, and so we understand the United States' position. For the remaining 10 percent share, we plan to gradually reduce that in a concrete manner." NEWS CONFERENCE IN PROGRESS JOURNALIST TYPING ON COMPUTER JOURNALISTS LISTENING TO NEWS CONFERENCE (SOUNDBITE) (English) U.S. TREASURY SECRETARY TIMOTHY GEITHNER SAYING: "We are in the early stages, just in the initial stages, of consulting with our allies, both in Europe and in Japan, and around the world, on how best to achieve those objectives. But we're working very closely together and we very much appreciate the support that Japan has provided in standing with us, in the international community, in support of this important strategic objective." JOURNALISTS LISTENING TO NEWS CONFERENCE (SOUNDBITE) (English) U.S. TREASURY SECRETARY TIMOTHY GEITHNER SAYING: "The IMF has been playing a very substantial role in the European strategy in a number of countries, that's what the IMF exists to do and we are fully prepared to support a more substantial role by the IMF in the context of supporting and supplementing a stronger European response." PHOTOGRAPHERS TAKING PHOTOS GEITHNER AND AZUMI SHAKING HANDS AND WALKING AWAY
  • Embargoed: 28th January 2012 12:00
  • Keywords:
  • Location: Japan, Japan
  • Country: Japan
  • Topics: International Relations,Economy,Politics,Energy
  • Reuters ID: LVA1U5308KNM0C7NWG5GHQNX6QRF
  • Story Text: Japan's finance minister pledged on Thursday (January 12) to steadily reduce oil imports from Iran after talks with U.S. Treasury Secretary Timothy Geithner, in support of U.S. sanctions on Tehran over its disputed nuclear programme.
    The move is not without its risks for Japan, as the country relies on imports for its energy needs and has to import more fuel from overseas to make up for waning use of nuclear power following last year's nuclear disaster in Fukushima and still imports about 10 percent of its crude oil from Iran.
    "Nuclear development is something that the world can't shut its eyes to and so we understand the United States' position. For the remaining 10 percent share, we plan to gradually reduce that in a concrete manner," Finance Minister Jun Azumi said.
    Anxiety over Iran's nuclear programme, which it says is not for military use, could also push up oil prices and harm the global economy.
    Geithner welcomed Tokyo's cooperation, which could be an encouraging sign for U.S. foreign policy after China, a big buyer of Iranian crude, rebuffed U.S. appeals to starve Iran of much-needed revenue from oil sales.
    "We are in the early stages, just in the initial stages, of consulting with our allies, both in Europe and in Japan, and around the world, on how best to achieve those objectives. But we're working very closely together and we very much appreciate the support that Japan has provided in standing with us, in the international community, in support of this important strategic objective," Geithner said.
    Iran denies Western suspicions that its nuclear programme has military goals, saying it is for purely peaceful purposes.
    Washington has rejected Iran's assertion and signed into law last month new sanctions against financial institutions dealing with Iran's central bank, its main clearing house for oil payments.
    Geithner also spoke about Europe's efforts to contain its debt crisis and the IMF's role, and welcomed the adoption of greater safeguards of financial discipline.
    "The IMF has been playing a very substantial role in the European strategy in a number of countries, that's what the IMF exists to do and we are fully prepared to support a more substantial role by the IMF in the context of supporting and supplementing a stronger European response," he said.
    European Union leaders have agreed to boost the International Monetary Fund's crisis-fighting capacity and accelerate the launch of a permanent rescue fund
  • Copyright Holder: REUTERS
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