July 12, 2018 / 7:22 AM / 4 months ago

Japan's MUFG Bank to halt Iran-related trade due to U.S. sanctions - document

TOKYO, July 12 (Reuters) -

* Japan’s biggest bank, MUFG Bank Ltd, will halt all Iran-related transactions to comply with the imposition of U.S. sanctions against Tehran that were suspended under the 2015 nuclear accord, according to a document seen by Reuters on Thursday.

* The bank has informed its customers in Japan about the decision given that the dealings with Iranian financial institutions are to be prohibited after a 180-day “wind-down period,” which ends on Nov. 4, the document said.

* The document added that it may revise its policy if additional guidance was given by the United States.

* The bank is considered to be handling the bulk of Japan’s payments to Iran for oil and energy purchases, industry sources have said. (Reporting by Osamu Tsukimori; Additional reporting by Taiga Uranaka Editing by Jacqueline Wong)

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