Iran explores oil sales to Japan as buyers seek longer waiver
Iran has begun talks with Japanese firms under a US sanctions waiver, though buyers want a longer window and reassurance on ship safety.
Iran has begun talks with Japanese companies under a US sanctions waiver allowing it to resume oil sales, though prospective buyers are seeking a longer waiver and reassurances about ship safety, sources told Reuters. The waiver, part of 60-day peace talks between Tehran and Washington, was issued on 22 June and expires on 21 August.
Three Japanese buyers are looking at possible crude purchases from Iran, their first since 2019. A senior Iranian official said any deal would require the US to extend the waiver given the shipping time between Japan and Iran, with cargoes loaded at Kharg Island on Japanese-operated tankers. Japan's trade ministry said it was unaware of any such matter.
Hormuz risks loom large: a container ship was attacked in the strait last week, Iran's Revolutionary Guards say all transits must be cleared with them, and the UN estimates about 80 floating mines in the waterway. Securing insurance would be the biggest challenge, one Japanese refiner said.
Source: Reuters (via Maasmond Maritime press clippings).
