Economics
Some Top Oil Buyers Are Thinking About Shunning Iran Oil
- Japan’s Fuji Oil may end imports, Taiwan’s Formosa mulls halt
- S. Korea has already stopped some purchases; ENOC tries others
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At least some buyers of Iranian supplies in the world’s biggest oil market are considering acquiescing to U.S. President Donald Trump’s demands.
As the American administration piles pressure on its allies to entirely halt purchases of Iranian supplies, Japan’s Fuji Oil Co. and Taiwan’s Formosa Petrochemical Corp. are considering ending imports from the OPEC member -- though they are yet to make a final decision. South Korea has already put some imports on hold while Emirates National Oil Co. in the U.A.E. is trying alternatives to cargoes from the Islamic Republic.