EXCLUSIVE: Iran exploring oil sales to Japan, buyers seek longer sanctions waiver, sources say

Iran is currently exploring the possibility of selling oil to Japan as part of its efforts to capitalize on a recent temporary easing of U.S. sanctions. This sanctions waiver, which provides Tehran with a 60-day window to find buyers, has allowed Iranian oil exports to gain momentum. The waiver is part of an interim peace deal, enabling Iran to export oil while buyers assess compliance with U.S. regulations and potential financial risks associated with renewed hostilities between the United States and Iran. Following the U.S. sanctions waiver, Iranian oil exports have reportedly increased, with over 20 million barrels of Iranian crude waiting in Asian waters for at least seven days. This represents an increase of nearly 18 percent from the previous week. Estimates of Iran's total oil on water, which includes cargoes in transit and those sitting at sea, range from 58 million to 68 million barrels since the waiver took effect. This data has been compiled from reports by Vortexa and Bloomberg. A significant portion of these cargoes, over 90 percent, currently lacks a confirmed destination. Many vessels are listed as "for orders" or are headed to Singapore, which may indicate potential ship-to-ship transfers occurring in the Malacca Strait. The global market is closely monitoring the situation for signs of progress toward a lasting peace agreement between the U.S. and Iran, despite concerns regarding the sustainability of the ceasefire that began earlier.