Iran is engaging in discussions with Japanese companies to resume oil exports under a U.S.sanctions waiver, though potential buyers are requesting an extended period and assurances about maritime safety.The current waiver, part of 60-day peace talks between Tehran and Washington, expires on August 21, 2026.Three Japanese firms are considering crude oil purchases from Iran, marking their first such deals since 2019.However, Japan’s Ministry of Economy, Trade and Industry (METI) has not confirmed any formal arrangements, and U.S.officials have yet to comment.

The Strait of Hormuz remains a critical concern, with Iranian forces recently attacking a container ship in the waterway and warning that all vessels must seek clearance.The UN estimates 80 floating mines in the area, complicating insurance for shipments.

While Chinese refineries are expected to remain Iran’s primary buyers due to existing contracts, Japanese companies face logistical challenges including shipping times and security risks.

An Iranian official emphasized that any deal would require a waiver extension to accommodate transit delays, with cargoes planned to be loaded at Kharg Island using Japanese-operated tankers.