Japan invests in Iran

Japan moved closer to securing the right to develop Iran’s largest oil field, shrugging off U.S. efforts to stop allies from making major energy deals with the nation. Japan signed a letter of intent with Iran on Sunday in which it agreed to spend USD 10 million to help fund a seismic study of the Azadegan oil field, which contains an estimated 26 billion barrels of oil. The two countries also signed an energy co-operation agreement.

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