Source:

October 15, 2010

WASHINGTON — The United States on Friday welcomed the decision by Japanese firm Inpex Corp. to withdraw from Iran’s Azadegan oil field project, saying it showed the risks of doing business with Tehran.

“The United States welcomes the decision by the Japanese oil company Inpex to withdraw from its investments in Iran,” State Department spokesman Philip Crowley told reporters.

“The company’s actions are part of a strong and emerging consensus not only of governments but also from the private sector, and has come together to send a powerful and united signal to Iran that it should meet its international obligations and begin to engage seriously on its nuclear program,” he said.

“Inpex’s decision today once again underscores that there are risks in dealing with Iran,” Crowley added.

The Japanese pullout is aimed at avoiding Inpex’s inclusion on a list of companies subject to US sanctions against Iran, local media including the Nikkei business daily have reported, citing government sources.

Last month Japan imposed new sanctions on Iran, including an assets freeze on people and entities linked to the nuclear program and tighter restrictions on financial transactions.

The steps followed Tokyo’s approval of punitive measures in line with a UN Security Council resolution in June, which slapped a fourth set of sanctions on Iran for its refusal to halt uranium enrichment work.

The United States and several other nations fear Iran is developing a nuclear arsenal under cover of its atomic energy drive, a charge Tehran denies.