Malaysia To Halt Import Of Iranian Oil

By Nor Baizura Basri KUALA LUMPUR, March 24 (Bernama) -- Malaysia will halt all imports of Iranian crude oil, Prime Minister Najib Razak said here Friday. He was confirming a foreign news report Friday that the national oil firm, Petronas, will halt imports of Iranian crude from April, two months before a US embargo takes effect. "It's only a small amount," he said in a brief reply to reporters following the United Malays National Organisation (Umno) Supreme Council meeting here Friday. Najib is president of Umno, Malaysia's largest political party and a founding member of the ruling Barisan Nasional (National Front) coalition government. According to the report, Petronas now imports some 50,000-60,000 barrels per day of Iranian crude. Currently, China, India, Japan and South Korea are the four biggest buyers of Iranian crude in Asia. Iran sells most of its 2.6 million barrels per day of exports in the region. -- BERNAMA