TOKYO: The Iranian National Oil Company has offered oil supplies to several Japanese oil companies, but diplomatic sources in Tokyo conside...
TOKYO: 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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