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2014-04-18 18:12:00

JAPAN PAYS $1B

JAPAN PAYS $1B

Japan made two more payments to Iran for crude imports that were scheduled under an interim nuclear deal, two sources with knowledge of the transactions said, in return for Tehran's moves to reign in its disputed nuclear programme.

Iran's central bank had received the payments from Japan, one source said. A second source confirmed Japan had made the transfers.

The payments totalled $1 billion, with one instalment of $550 million due on April 10 and the remainder on April 15, according to a schedule for the transfers on a U.S. Treasury fact sheet.

Japan's finance ministry and central bank have declined to comment on the payments.

The fourth and fifth payments mean Iran has received $2.55 billion in frozen oil funds, with all but one payment coming from Japan. South Korea made the other payment.

Under a Nov. 24 agreement with six major powers, Iran won access to $4.2 billion of its oil revenues frozen abroad by eight money-transfer schedules through July if it carried out its part of the deal to curb its nuclear programme.

A senior Iranian official told the official IRNA news agency on Tuesday that Tehran expected to get the fifth instalment of the frozen funds this week, signalling the country was in compliance with its obligations under the November agreement.

reuters.com

Tags: IRAN, OIL, JAPAN

Chronicle:

JAPAN PAYS $1B
October, 16, 11:50:00

SAUDI ARAMCO IPO

Saudi Arabia is considering delaying the international portion of the giant initial public offering of its state oil company until at least 2019, according to people familiar with the situation, who said a domestic share sale in Riyadh could still happen next year.

JAPAN PAYS $1B
October, 16, 11:45:00

SAUDI'S BANKS ARE BETTER

But we expect a rise in the sector's NPL ratio and muted credit demand in the second half of 2017 and 2018, reflecting the slowing economy. GDP growth slowed to 1.4% in 2016 from 3.4% in 2015 and we expect it to be below 1% in 2017 and 2018.

JAPAN PAYS $1B
October, 16, 11:40:00

OPEC EXPECTATION

The Organization of Petroleum Exporting Countries and allies including Russia have been cutting oil production this year to bring fuel inventories in industrialized nations back in line with the five-year average.

JAPAN PAYS $1B
October, 16, 11:35:00

JAPAN LNG INVESTMENT

The Japanese government will offer $10 billion to support firms bidding to build liquefied natural gas (LNG) infrastructure around Asia, the Nikkei business daily said on Monday.

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