Iran begins talks with Japanese firms on oil sales under temporary US sanctions waiver

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Iranian flag with stock graph and an oil pump jack miniature model are seen in this illustration taken October 9, 2023.
Iranian flag with stock graph and an oil pump jack miniature model are seen in this illustration taken October 9, 2023.
(photo credit: REUTERS/DADO RUVIC/ILLUSTRATION/FILE PHOTO)

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, 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.

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