Japan refuses to extract Iranian oil

The leading Japanese oil company INPEX has officially renounced developing one of the world's largest Azadegan oil reserves in southwestern Iran, ITAR-TASS reports.

In the past, companies such as Italy's ENI, Norway's Statoil, Anglo-Dutch Shell and France's Total have declined participation in Iranian projects, due to the international sanctions recently taken against Iran because of the conflict over its nuclear program.

Previously, Gazeta.ru reported on a letter from the Russian company Lukoil to the US Congress, which had previously accused the company of violating the sanctions against Iran, while in fact Lukoil had been permanently reducing its activities in Iran.