The Bank of Tokyo-Mitsubishi UFJ (BTMU), Japan's largest bank, has resumed transactions with Iranian banks, including payments for Iranian crude oil bought by Japanese refiners-a move that could facilitate refiners raising their volumes of Iranian oil imports. BTMU's move follows the lifting of nuclear sanctions against Iran by the US and EU on January 16. This was followed by Japan lifting its key sanctions against Iran, including its ban on Japanese banks dealing with Iranian banks, on January 22.
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