17:19 - 23.06.2026

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June 23, Fineko/abc.az. Tehran has stepped up negotiations with refineries in India, Japan and South Korea, seeking to reduce its dependence on China, ABC.AZ reports, referring to Bloomberg.

The reason is the 60-day easing of US sanctions, which allows for a temporary increase in exports and the unloading of tankers with accumulated reserves. There are nearly 68 million barrels of Iranian oil in the sea, a significant portion of which has no clear destination.

However, Asian buyers are in no hurry, as they have ample alternative supplies and the risks of sanctions and financial difficulties remain high. A significant increase in exports is only possible with a more sustained easing of sanctions and significant discounts.