Iran opens talks with Japanese companies on crude oil sales

WASHINGTON, United States — Iran has begun negotiations with Japanese companies on crude oil exports, according to three Iranian and Western sources who spoke to Reuters. The discussions have moved into the sales phase, the sources said. Potential buyers are seeking longer-term exemptions from U.S. sanctions and guarantees that tankers can transit the Strait of Hormuz safely. The United States granted Iran a sanctions waiver on oil sales in June, tying the exemption to commitments on nuclear inspections and freedom of navigation in the strait. The U.S. Treasury Department's current waiver allows the sale of Iranian crude oil, petrochemical products and petroleum derivatives until August 21. China became Iran's largest oil customer in recent years after Washington tightened sanctions following its 2018 withdrawal from the nuclear deal, while buyers in South Korea, Japan, India and Europe halted their purchases. Japan's Foreign Ministry and the U.S. Treasury Department did not immediately respond to requests for comment.