Sanctions could cost Japan its share of Iran market, spokesman says

Tokyo's new sanctions on Iran would cause Japan to lose out to rivals on Iranian exports, the Tehran press on Monday quoted Iran's foreign ministry spokesman as saying, DPA reported.

Japan on Friday imposed new sanctions on Iran over its nuclear programmes, despite strong trade ties with Tehran.

Any country imposing sanctions on Iran would de facto be jeopardizing their own national interests, spokesman Ramin Mehmanparast said, referring to the Japanese move.

The spokesman accused Japan of bending to the influence of the United States.

The cabinet-approved sanctions included a freeze on Japan-based assets of 88 institutions and 24 individuals. With the new steps, a total of 161 Iranian organizations and 65 individuals are subject to the freeze.

The new measures also restrict fresh Japanese investments in oil and gas projects in Iran.

The government, however, decided not to impose any import restrictions on crude oil from Iran, the fourth biggest supplier to Japan after Saudi Arabia, the United Arab Emirates and Qatar.

In 2009, Iran exported around 421,000 barrels per day to Japan.