Iran, Japan's fourth biggest supplier of crude oil, has reacted sharply to Tokyo slapping new sanctions on it, saying that such moves will affect the national interests of the very countries that have taken the punitive measures.
Iran's Foreign Ministry spokesman Ramin Mehmanparast told local media that the latest measures would cause problems for Japanese companies as they will lose out to rivals on Iranian exports.
He blamed the United States for exerting pressure on other governments to impose sanctions on Iran. Terming the measures "illegal and unfair," the Iranian diplomat insisted that Tehran was "interested to use their legitimate right of having peaceful nuclear technology."
Japan, a country having strong trade ties with Iran, announced additional sanctions on Friday, based on the U.N. Security Council resolution passed in August, over its disputed nuclear program.
It included a freeze on Japan-based assets of 88 Iranian entities, including many of Iran's banks such as Bank Mellat, the Islamic Revolutionary Guard Corps, and the Islamic Republic of Iran Shipping Lines, and 24 individuals of proliferation concern.
Japan joins other nations which have also enforced such sanctions on Iran for its failure to meet its international obligations, including the European Union, Australia, Canada, and Norway.
These sanctions, combined with Japan's establishment of a financial authorization system for all transactions with Iran, prohibition of the transfer of proliferation sensitive dual-use items to Iran and of any new investment or sale of goods, services, and technology to Iran's energy sector, will deepen Iran's isolation from the international financial, industrial and energy sectors.
Washington welcomed Tokyo's move, and called upon other countries to follow suit in support of the international community's efforts to put additional pressure on Iran's leaders.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.