Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Japan's Abe warns of armed conflict amid soaring U.S.-Iran tension

Published 06/12/2019, 04:42 PM
Updated 06/12/2019, 04:42 PM
© Reuters. Iranian President Hassan Rouhani walks with Japan's Prime Minister Shinzo Abe, during a welcome ceremony in Tehran

By Parisa Hafezi

DUBAI (Reuters) - Japanese Prime Minister Shinzo Abe warned of unintended clashes in the crisis-hit Middle East after meeting the Iranian president in Tehran on Wednesday, amid a brewing confrontation between Iran and the United States.

As a U.S. ally that also has good diplomatic relations with Iran, Japan could be in a unique position to mediate between the Islamic Republic and the United States.

"Armed conflict needs to be prevented at all costs. Peace and stability in the Middle East is indispensable not only for this region but for global prosperity. No one is hoping for war," the Japanese leader said.

"We would like to play the maximum role we can for easing tension. That is what brought me to Iran," said Abe, whose two-day visit is the first by a Japanese leader to Iran since its 1979 Islamic Revolution.

While Abe did not mention Japan's currently suspended purchases of Iranian oil, Iranian President Hassan Rouhani said that Japan wants to keep buying Iranian oil.

"In our meeting, Mr. Abe said that Japan was interested in continuing buying Iran's oil," Rouhani told a joint news conference with Abe, broadcast live on state TV.

Earlier, two Iranian officials told Reuters that Tehran would ask Tokyo to mediate between it and Washington to ease oil sanctions on Iran.

"America should either lift the unjust oil sanctions or extend the waivers or suspend them," one senior official said.

To slash Iran's oil exports, Washington has revoked waivers since May that had allowed some countries, including Japan, to continue buying Iranian crude and has effectively ordered countries to stop purchasing Iranian oil or face sanctions of their own.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Despite pushing for imports to continue, Japan has stopped importing oil from Iran for now to avoid U.S. sanctions.

On a visit to Japan last month, U.S. President Donald Trump welcomed Abe's help in dealing with Iran, highlighting what he called the "very good relationship" between Tokyo and Tehran.

Strains between Washington and Tehran have sharply increased in recent weeks, a year after the United States abandoned a 2015 nuclear agreement between Iran and world powers to curb Tehran’s nuclear program in exchange for the lifting of sanctions.

"Iran will remain committed to the deal, which is important for the security of the region and the world. Tehran and Tokyo both oppose nuclear weapons," said Rouhani.

TRUMP CRANKS UP PRESSURE ON IRAN

Washington, calling the nuclear deal flawed and seeking to push Iran into new negotiations, intensified sanctions from the start of May, ordering all countries and firms to halt imports of Iranian oil or be banished from the global financial system.

It has also dispatched extra armed forces to the region to counter what it describes as Iranian threats.

Iran has warned against any military aggression.

"Iran will never initiate a war but will give a crushing response to any aggression," Rouhani said.

"The source of tensions is America's staged economic war against Iran. As soon as this war ends, we shall see a very positive development in the region and in the world."

Abe has talked to U.S. regional allies like Israel's Prime Minister Benjamin Netanyahu and Saudi Crown Prince Mohammed bin Salman, who have supported Trump's Iran policy.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Iran said in May that after 60 days it would resume its enrichment of uranium beyond the low fissile purity - suitable for civilian nuclear power generation - allowed under the deal, unless other powers stuck to their commitments under the 2015 nuclear deal.

European parties the deal have promised to help Iran find other ways to trade, although with no success so far.

Japan wants to do as much as possible towards peace and stability in the Middle East," Abe said in Tokyo ahead of his departure, according to Iranian TV.

But just hours before Abe's visit to Iran, Yemen's Iran-backed Houthi rebels carried out a missile attack on a civilian airport in southern Saudi Arabia which wounded 26 people.

The Western-backed, Sunni Muslim alliance that has been battling the Houthis in Yemen said the attack was proof of Tehran's support for what it called cross-border terrorism.

Abe will also meet the Islamic Republic's top authority, Supreme Leader Ayatollah Ali Khamenei.

Latest comments

no new information ....
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.