"China, India, Japan want to continue trade with Iran, but likely to go along with U.S. sanctions"
Azerbaijan, Baku, March 16 /Trend S.Isayev, T. Jafarov/
China, India, and Japan would like to continue trade with Iran, however there is pressure from the U.S. that the countries have to take into consideration, U.S. Northeastern University Professor Kamran Dadkhah told Trend.
"Sooner or later, China, Japan and India will have to go along with the U.S. sanctions," Dadkhah said. "This is the pattern happening with all countries".
Japan placed placed Iran's third-largest bank on a blacklist for allegedly having helped Tehran develop its nuclear programme, following up on similar moves by the United States and the European Union announced in January.
The addition of state-owned Bank Tejarat takes to 21 the number of Iranian banks with which Japan has suspended its correspondent banking ties, the government said in a statement.
Tokyo's sanctions do not include the central bank of Iran, although Japan, Iran's third biggest crude oil customer after China and India, is looking to cut its dependence on the OPEC member under pressure from the EU and the United States.
Dadkhah noted that in 2010 Japan exported $2.2 billion worth of goods to Iran, while its export of goods to the United States was $122.8 billion.
"The preliminary data shows that it reached $131.7 billion in 2011," he added. "Japan cannot afford to alienate the United States for the sake of a couple of hundred thousand barrels of oil per day from Iran".
Alternatively, Japan might try to get advantageous deals from Iran through third parties who bypass sanctions, Dadkhah said.
EU economic advisor Mehrdad Emadi holds the same opinion, saying that it is likely to be going further downhill.
"Officials of Japanese banks and industrial spheres will be reducing their relations with Iran in the upcoming months," he told Trend.
"I think Japan has to minimize its trade relations with Iran," Emadi said. "South Korea is likely to follow the same path".