Japan's largest Mitsubishi UFJ Financial bank has suspended all trading transactions with Iran till November 4, 2018, due to US sanctions against Tehran, Reuters reported citing a letter sent to its customers.

Japan is one of the largest buyers of Iranian oil and MUFG Bank imports most of it. The bank has given 180 days to suspend all transactions with Iran.

In 2014 the MUFG bank was fined for hundreds of millions of dollars to carry out transactions with companies under sanctions.

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