Japan bank lobby: Iran transaction freeze risks energy policy

TOKYO Thu May 17, 2012 7:35am BST

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TOKYO May 17 (Reuters) - Japan's energy security will be at risk if banks cannot process transactions for oil from Iran, the head of Japan's banking industry lobby said on Thursday.

"If banks can't make settlements for Iranian oil, this will affect the nation's energy policy," Yasuhiro Sato, president of Mizuho Financial Group and chairman of the Japanese Bankers Association, said at a regular news conference.

His comment comes after Bank of Tokyo-Mitsubishi UFJ froze its transactions with Iranian banks on orders from the New York District Court.

(Reporting by Taiga Uranaka)

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