Iran has opened discussions with Japanese firms about the purchase of Iranian crude, but prospective buyers are seeking two specific reassurances before committing, three Iranian and Western sources said.
Those potential buyers have asked for a longer U.S. sanctions waiver than the one currently in force and for clear reassurances that shipping conditions in the Gulf will be safe, the sources said. The requests reflect the conditional nature of the U.S. authorisation and concerns about maritime security in the region.
The United States authorised the sale of Iranian oil in June, a move that eased long-standing sanctions. That authorisation is part of U.S. efforts to secure a final peace deal with Tehran in return for commitments on nuclear inspections and on freedom of navigation through the Strait of Hormuz, the sources said.
China has been the primary buyer of Iranian crude in recent years, after customers in South Korea, Japan, India and Europe largely stopped purchases following a tightening of sanctions after the U.S. withdrawal from the nuclear agreement in 2018, the sources said.
At present, the U.S. Treasury Department's sanctions waiver permits the sale of crude oil as well as petrochemical and petroleum products of Iranian origin only through August 21. That time-limited authorisation is the specific waiver prospective Japanese buyers want extended, according to the sources.
Requests for comment to Japan's foreign ministry and to the U.S. Treasury did not receive immediate responses, the sources said.
Context and implications
- Negotiations between Iran and Japanese companies have begun, but remain conditional on extended legal protections and assurances about transit safety.
- The U.S. decision in June to allow Iranian oil sales is framed as part of wider diplomatic aims linking inspections and navigational freedoms to a possible peace agreement.
- China remains the dominant buyer after other markets curtailed imports when sanctions were tightened post-2018.
This reporting is based on the statements of three Iranian and Western sources. Details beyond the described requests and the current waiver expiration date were not provided by those sources.