Iran has begun talks with Japan about selling oil to Japanese companies, according to Iranian and Western sources. The discussions come less than a month after the U.S. eased decades-old sanctions on Iranian oil as part of efforts to secure a final peace deal with Tehran.
The U.S. relaxed the sanctions in exchange for commitments from Iran on nuclear inspections and freedom of navigation through the Strait of Hormuz.
Prospective Japanese buyers are seeking a longer sanctions waiver from Washington, along with reassurances over safe shipping conditions in the Gulf, the sources said.
China has been the main buyer of Iranian oil in recent years after customers in South Korea, Japan, India and Europe halted purchases because of tighter U.S. sanctions. Those sanctions followed U.S. President Donald Trump's withdrawal from the Iran nuclear pact in 2018.
The U.S. Treasury Department's current sanctions waiver allows the sale of Iranian crude oil, petrochemicals and petroleum products until 21 August.
Japan's Foreign Ministry and the U.S. Treasury did not immediately respond to requests for comment.
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Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 22nd of July, covering the latest developments you need to know.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 23rd of July, covering the latest developments you need to know.
The United States has bombed Iran for an 11th consecutive night as the Pentagon says the war’s cost reach $37.5 billion. President Donald Trump threatens a heavy strike on the suspected Pickaxe Mountain nuclear site. Tehran warns that any attack could trigger a wider regional escalation.
U.S. strikes on Iran entered a 12th consecutive night, while Yemen's Houthis said they attacked two Saudi oil tankers in the Red Sea, urging President Donald Trump to warn Tehran it would be held responsible for any future Houthi attacks.
Azerbaijani President Ilham Aliyev and German President Frank-Walter Steinmeier have discussed regional developments, transport connectivity, energy cooperation and the Azerbaijan-Armenia peace process during talks in Berlin.
Pakistan has reaffirmed its support for Saudi Arabia after Prime Minister Shehbaz Sharif condemned Houthi attacks in the Red Sea, warning that threats to Pakistani maritime interests could justify the lawful use of force.
The Turkmenbashi International Seaport has launched pilot cargo transit operations using the electronic TIR system on the Azerbaijan-Turkmenistan-Uzbekistan transport corridor, marking a step towards fully digital customs procedures across the region.
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Months of progress against hunger in Gaza are at risk of being reversed as aid funding runs out and relief operations are scaled back, with a new assessment warning that two-thirds of the population could face acute hunger by the end of the year.
Gaza's US$71.4 billion reconstruction effort will fail unless Palestinians lead the process, according to a new report by Oxfam and two Palestinian organisations, which argues previous rebuilding efforts were repeatedly undermined by conflict, restrictions and funding shortfalls.
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