U.S. Grants 60-Day Waiver on Iran Oil Sanctions; Iranian Sellers Target Asian Refiners With 68M Barrels

According to Guru Club, on June 23, the U.S. Treasury granted a 60-day full waiver on Iran crude oil and petrochemical sanctions. Iranian exporters and state oil company representatives immediately began approaching refiners in India, Japan, and South Korea to offload stranded inventory during the policy window. According to Bloomberg and analytics firm Vortexa, approximately 68 million barrels of Iranian crude and condensates float at sea as of June 22, with at least 80 percent lacking designated discharge ports and theoretically available for sale. However, Asian buyers remain cautious due to ample global supply, continued EU and UK sanctions, and uncertainty about U.S. policy continuity under the Trump administration.
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