Russia

Tehran offers Japanese companies to purchase Iranian oil — Kyodo

TASS English · 2026-07-04

AI SUMMARY

• What happened: Iran has offered Japanese companies the opportunity to purchase Iranian oil, viewing Japan as a "friendly country" and hoping for future investments in its energy sector. However, Japanese diplomatic sources consider such deals unrealistic due to safety concerns in the Strait of Hormuz and the impact of U.S. sanctions. • Why it matters: This development highlights Iran's efforts to re-establish oil trade relationships following sanctions that have limited its oil exports since 2019. It also reflects the geopolitical complexities surrounding energy supply and international relations in the region. • What to watch next: Monitor the ongoing negotiations between the U.S. and Iran regarding the cessation of hostilities and the potential implications for oil trade, as well as Japan's response to Iran's offer amid safety and diplomatic concerns.

Tehran offers Japanese companies to purchase Iranian oil — Kyodo According to the news agency, Iran sees oil supplies to "a friendly country like Japan" to be a positive development and hopes for Japanese investment in the energy sector after reaching a final agreement with the United StatesTOKYO, July 4. /TASS/. The Iranian National Oil Company has offered oil supplies to several Japanese oil companies, but diplomatic sources in Tokyo consider such a deal unrealistic now, according to Kyodo News agency. According to Iranian diplomatic sources, Tehran began contacting several foreign companies, including those from Japan and South Korea, offering them oil even before signing the memorandum with the United States. Japan actively purchased Iranian oil until 2019, when the first administration of US President Donald Trump imposed sanctions. Now, according to diplomatic sources in Tokyo, such a deal will be hampered by insufficient guarantees for the safety of navigation in the Strait of Hormuz. Japanese companies Cosmo Energy Holdings and ENEOS declined to comment, while a Japanese government spokesman said there was "no benefit in buying [Iranian oil]." Iran, according to Kyodo, sees oil supplies to "a friendly country like Japan" to be a positive development and hopes for Japanese investment in the energy sector after reaching a final agreement with the United States. The United States and Israel started a war with Iran on February 28. In June, Washington and Tehran signed a memorandum of understanding providing for an immediate cessation of hostilities on all fronts, including in Lebanon. Later negotiations between the United States and Iran were held in Switzerland with the mediation of Doha and Islamabad on the implementation of the memorandum. As noted in a joint statement of Pakistan and Qatar at the end of the first round, the meeting between Iran and the United States was held in a positive and constructive atmosphere, encouraging progress was achieved, including the establishment of a basis for further technical consultations. 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Source: TASS English
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