DUBAI: Iran has initiated discussions with Japanese companies to resume crude oil exports following the recent easing of U.S. sanctions, although potential buyers are seeking a longer sanctions waiver and assurances over the safety of shipping routes through the Gulf, according to Iranian and Western sources.
The United States authorised limited Iranian oil sales in June as part of broader diplomatic efforts aimed at securing a comprehensive agreement with Tehran. The proposed deal seeks stronger commitments from Iran on nuclear inspections and the protection of freedom of navigation through the strategically important Strait of Hormuz.
In recent years, China has remained the primary purchaser of Iranian crude after major importers—including Japan, South Korea, India and several European countries—halted purchases following the reimposition of U.S. sanctions after President Donald Trump withdrew the United States from the 2015 nuclear agreement in 2018.
Under the current U.S. Treasury sanctions waiver, the sale of Iranian crude oil, petroleum products and petrochemicals is permitted until August 21, prompting prospective Japanese buyers to seek greater clarity on whether the exemption will be extended before committing to long-term supply agreements.
In addition to regulatory certainty, Japanese companies are also seeking assurances regarding the security of maritime trade routes in the Gulf, particularly through the Strait of Hormuz, a critical chokepoint for global energy supplies.
Japan’s Ministry of Foreign Affairs and the U.S. Treasury Department did not immediately respond to requests for comment on the reported discussions.
By Reuters
