Iran: Japan Offering Credit Line For Oil Purchases

Iran: Japan offering credit line for oil purchases

Iran's Foreign Ministry has disclosed that the Japanese government has proposed offering the country a line of credit based on the volume of Iranian oil Japan purchases.

At a news conference on Monday, Iranian Foreign Ministry spokesperson Seyyed Abbas Mousavi said Japan's proposal is an attempt to ease tensions between Iran and other countries. He did not provide further details of the proposal.

Mousavi said Japan's proposal is similar to one made by French President Emmanuel Macron, and would help break the current deadlock.

Last month, France disclosed that it has proposed offering a credit line for Iran that would be guaranteed by its oil revenues as a form of economic aid.

France's proposal has yet to approved by the US, which has imposed an all-out embargo on Iranian oil.

The Japanese Embassy in Tehran says it is aware of the Iranian spokesperson's comment, but officials say they cannot comment on details of diplomatic exchanges.