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institutions from its domestic market if they do business with the iranian central bank. the move is aimed at blocking countries from importing crude oil from iran. japan imports nearly 10% of its oil from iran. it has been urging the u.s. to exempt japanese firms from the sanctions. a senior u.s. official says japan reduced its crude oil purchases from iran by 15% to 22% in the latter half of 2011, despite the accident at the fukushima daiichi nuclear plant. the official adds that japan understands the purpose of the u.s. law. japanese companies are having to adjust for the changes. ai uchida joins me with what is doing what. in order to avoid the u.s. financial sanctions january naez oil companies are voluntarily reducing crude oil imports from iran. the top wholesaler jx nippon oil and energy plans not to extend its contract with iran beyond april. meanwhile, cosmo oil sharply lowered its quota when it renewed its contract with iran in january. to make up for the cuts th

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