Iran has started discussions to sell oil to Japanese companies, with potential buyers seeking a longer US sanctions waiver and assurances on safe shipping conditions in the Gulf, according to three Iranian and Western sources.
US Sanctions and Iranian Oil Sales
The United States authorized Iranian oil sales in June, easing decades-old sanctions as it pushes for a final peace deal with Tehran in exchange for commitments on nuclear inspections and freedom of navigation through the Strait of Hormuz.
China has been the main buyer of Iranian oil in recent years, after customers in South Korea, Japan, India, and Europe halted purchases due to tightened sanctions following US President Donald Trump’s withdrawal from Iran’s nuclear pact in 2018.
The current US Treasury Department sanctions waiver allows the sale of crude oil and petrochemical and petroleum products of Iranian origin through August 21.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
