Asia's oil users to cut Iranian imports Asia's big oil importers are planning to implement significant cuts in their imports of Iranian crude oil, hoping to fend off the impact of tightening US sanctions that make it far harder for companies across the world to do business with Tehran. Japan, the world's third-largest oil importer, is close to securing a deal with Washington under which it would avoid being penalised by US sanctions. The US measures, introduced at the start of this year, make it difficult for companies to do business with the Central Bank of Iran, which acts as the clearing house for all financial transactions relating to the country's oil trade. Tokyo has offered Washington a reduction in Iranian oil imports of between 10 and 15 per cent this year in exchange for a sanctions waiver by the US, according to a person involved in discussions between the two sides. Without this sanctions waiver, Japanese companies would find themselves being shut out of US markets. India and China are also lining up new sources of supply, prompting industry executives to conclude that both Beijing and New Delhi plan a cut in imports of Iranian crude. Reuters news agency quoted unidentified industry and government sources on Tuesday who suggested that the Indian government was pushing its refineries to cut imports by at least 10 per cent. It also quoted sources suggesting that China's Unipec, the trading arms of Sinopec Corp, was likely to cut imports by 10 per cent to 20 per cent under 2012 supply contracts. Following the imposition of European Union ban on Iranian oil imports, Tehran is already seeing a restriction of foreign exchange receipts that are vital for the country's economy. But western diplomats believe a move now by leading Asian companies to reduce oil imports to avoid US sanctions will intensify the economic blow to the Iranian regime. China is the single largest buyer of Iranian oil, accounting for 22 per cent of all Iranian exports last year - 540,000 barrels a day - according to estimates by the US Department of Energy. Japan was the second largest buyer, accounting for 14 per cent, 341,000 b/d. India was the third largest, accounting for 13 per cent, 328,000 b/d. Despite the growing economic pressure on Iran, the regime adopted a defiant stance on Tuesday, warning that it would consider taking pre-emptive action in response to threats. "We will no more wait to see enemy action against us," Fars news agency quoted Mohammad Hejazi, deputy head of the general staff of the Iranian Armed Forces for Logistic and Industrial Research, as saying in an interview. Its new strategy was that it would "make use of all our means to protect our national interests and hit a retaliatory blow at them whenever we feel that enemies want to endanger our national interests," Hejazi was quoted as saying. Mr Hejazi's comments came as the UN's nuclear watchdog started a second day of meetings in Tehran to clarify aspects of the country's activities. The team from the International Atomic Energy Agency is in Tehran for two days of meetings that provide an opportunity to defuse allegations of a possible military aspect to the country's nuclear program.