Iran considers oil sales to Japan

Iran has begun negotiations on selling oil to Japanese companies.

According to Reuters, cited by Report, sources noted that potential buyers are seeking a longer-term exemption from US sanctions, as well as guarantees for safe shipping conditions in the Persian Gulf.

In June, the United States authorized the sale of Iranian oil, easing sanctions that had been in place for decades as part of efforts to reach a final peace agreement with Tehran in exchange for commitments on nuclear inspections and ensuring freedom of navigation through the Strait of Hormuz.

The current U.S. Treasury Department sanctions waiver permits the sale of Iranian-origin crude oil, petrochemical products, and refined petroleum products until August 21.