Japan: Tough choice over Iranian oil

TOKYO, April 13 (UPI) -- Following Iran's admission it has successfully enriched uranium, Japan must now decide whether to halt development and exploration of Azadegan Oil Field.

Japan's Chief Cabinet Secretary Shinzo Abe expressed discomfort with the new situation Wednesday, saying Iran's latest move "is against the message of the United Nations' Security Council and International Atomic Energy Agency."

The Bush administration has reportedly asked Japan to withdraw from Azadegan. Abe said that because Japan enjoyed a friendly relationship with Iran, it must endeavor to convey the international concern to Iran, hopefully eliminating diplomatic fears.

When Iranian Foreign Minister Manuchehr Mottaki, who served as Iranian ambassador to Japan from 1995 to 1999, visited Tokyo in February, Japanese Foreign Minister Taro Aso counseled him on the global displeasure over Iran's nuclear program. The Iranian diplomat remained undeterred.

Azadegan, with estimated oil reserves of 26 billion barrels, is the largest oil field being explored and developed by Japanese firms. Iran is the third-largest oil exporter to Japan.
http://www.upi.com/Energy/view.php?S...2-111800-1009r

Don't think it's the best of times to "Invest in Iran"....I'd wait till the dust settles a bit.:thumbsup: