Iran explores oil sales to Japan

Iran has begun talks with Japanese companies under ​a U.S. sanctions waiver allowing it to resume oil sales, though prospective buyers are seeking a ‌longer waiver and reassurances about ship safety, three Iranian and Western sources said.

The waiver, part of 60-day peace talks between Tehran and Washington, was issued on June 22 and expires August 21.

Three Japanese buyers were looking at possible crude oil purchases from Iran, their first since 2019, ​said two Iranian sources, who declined to be identified due to the sensitivity of the issue.

Japanese and Iranian ​officials were in initial talks about possible oil sales, a Western industry source familiar with ⁠the matter said separately.

An official at Japan's Ministry of Economy, Trade and Industry (METI), which oversees fuel supply infrastructure, said he ​was unaware of any such matter.

Japan's foreign ministry and the US Treasury did not immediately respond to Reuters requests for ​comment.
Japan, South Korea, India and European countries stopped buying Iranian oil when U.S. sanctions tightened following U.S. President Donald Trump's withdrawal from Iran's nuclear pact in 2018.

China has been Iran's main buyer in recent years.

Any Japanese purchases would be a matter for private companies, a separate ​METI official told Reuters in June, but said it was unclear whether such deals would proceed given shipping times and ​existing contracts.

The safety of any tanker voyage would also have to be ensured, the official added.

-Reuters