Tokyo on Friday lifted sanctions on Iran, falling in line with major world powers after the International Atomic Energy Agency confirmed last weekend that Tehran had fully taken steps to place temporary curbs on its nuclear program. As such, January 16 marks the official end of western sanctions against the Islamic Republic.
With the lifting of sanctions, Japanese insurance companies will be able to issue policies covering trade deals involving Iran. Japanese business will also be able to make new investments in Iran’s oil and gas sector.
Japan’s Foreign Minister Fumio Kishida visited Iran in October and struck an investment deal stipulating protection of assets of Japanese firms investing in the country, Japanese business journal Nikkei Asia Review wrote on its website.
