Iran Receives 2 More Oil Payments from Japan: Report

TEHRAN (Tasnim) — Japan has made two more payments to Iran for crude imports that were unblocked under an interim deal between six major world powers and Tehran on the country’s nuclear program.

Iran Receives 2 More Oil Payments from Japan: Report

The Central Bank of Iran (CBI) has received the payments from Japan, one source said. A second source confirmed Japan had made the transfers, Reuters reported on Thursday .

The payments totaled $1 billion, with one installment of $550 million due on April 10 and the remainder on April 15, according to a schedule for the transfers on a US Treasury fact sheet.

Japan's finance ministry and central bank have refused to comment on the payments.

Earlier on March 5, the CBI had announced that three Japanese banks, namely Bank of Tokyo-Mitsubishi (BTMU), Sumitomo Mitsui Banking Corporation (SMBC) and Mizuho Bank have expressed preparedness to conduct financial transactions with Tehran.

On March 5, Reuters quoted diplomatic sources as saying that Japan has made a second payment to Iran for oil imports following the partial easing of sanctions on Tehran in line with the Geneva nuclear deal.

On November 24, 2013, Iran and the Group 5+1 (the five permanent UN Security Council members plus Germany) signed a six-month deal on Tehran’s nuclear program in Geneva after several rounds of tight negotiations.

Based on the interim deal (the Joint Plan of Action), the world powers agreed to suspend some non-essential sanctions and to impose no new nuclear-related bans in return for Tehran's decision to suspend its 20% enrichment for a period of six months.

The breakthrough deal, which has come into effect since January 20, stipulates that over the course of six months, Iran and the six countries will draw up a comprehensive nuclear deal which will lead to a lifting of the whole sanctions on Iran.

In January, Japan became the first of Iran’s oil buyers to make a payment for crude imports under the deal, sources told Reuters, with one source confirming the amount of $550 million.

According to the agreement, the second and third payment schedules were March 1 for $450 million and March 7 for $550 million.

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