how best to achieve those goals , '' he said , adding that Japan 's support was appreciated . `` We are working very closely with Europe and Japan and countries around the world to substantially increase the pressure we bring on Iran , '' Geithner said . The announcement is a plus for Geithner , after his efforts on Iran were rebuffed by senior Chinese officials during his visit to Asian countries this week . `` I think ` small victory ' is a fair categorization , '' said Michael Levi , a Council on Foreign Relations ' expert on energy policy and national security . From January to September 2011 , Iran exported 13 % of its crude oil to Japan , according to the International Energy Agency . Levi said Iran is likely to absorb this and find alternatives -- unless those drop out as well . `` As long as Iran has a substantial set of potential buyers , it 's going to make as much money as it made before , '' Levi said . Levi said Japan wants to phase out its imports from Iran slowly so it can smoothly transition to other sources
Tokyo -LRB- CNN -RRB- -- Japan is prepared to gradually reduce the amount of oil it imports from Iran , Finance Minister Jun Azumi said Thursday , as the United States seeks to muster international support to put fresh pressure on Tehran over its nuclear program . Japan imports 10 % of its crude oil from Iran at the moment , Azumi said at a news briefing after meeting with U.S. Treasury Secretary Timothy Geithner . The country is ready to decrease that level `` in a planned manner , '' he said . `` What I told the secretary is that we have already reduced Iranian oil imports by 40 % in the past five years , '' Azumi said , standing next to Geithner . `` The nuclear development issue is an issue that the international community can not overlook , so we very much understand the U.S. action . '' The United States is exploring ways to cut off Iran 's central bank from the global financial system and reduce the country 's oil revenues , Geithner said at the briefing . Washington is in `` the initial stages of consulting with allies around the world about