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Japan's Trade Minister: US decision on Iranian oil exports will have limited impact on Japan

The US' decision to force Iranian oil exports to zero by ending waivers will have a limited impact on Japan's economy, trade minister Hiroshige Seko reportedly said on Tuesday.

Seko also assured that there is no need to use the national oil reserve.

The US announced yesterday that it will no longer exempt countries from sanctions that aim to impose a complete oil embargo on Iran, according to The Guardian.

Trump administration reimposed sanctions on Iran in November 2018, but had granted waiver to Japan, India and few other countries.

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