After the cancellation of the US sanctions waiver, 63 million barrels of Iranian oil were left without buyers at sea

After the US revoked the permit for the sale of Iranian oil, about 63 million barrels of crude oil already on tankers at sea are under threat. This is reported by Bloomberg, writes UNN.

Details

According to the agency's estimates based on Vortexa data, Iranian oil is currently on vessels in the Persian Gulf and other areas of Asian waters. Most tankers have no designated destination or indicate they are ready to accept orders, which indicates a lack of buyers.

At the end of June, Washington allowed Iran to sell oil for 60 days without the application of US sanctions. However, this permit was revoked early after attacks on commercial vessels in the Strait of Hormuz.

Iran may lose an important source of revenue

According to Bloomberg, it was the temporary easing of sanctions that contributed to a sharp increase in Iranian oil exports. Now the sale of these volumes will become significantly more difficult, which could deprive Tehran of one of its main sources of foreign currency earnings.

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The organization United Against Nuclear Iran reported that after the conclusion of the interim agreement, it recorded at least 19 shipments of Iranian oil and petroleum products, as well as 46 tankers loaded with Iranian oil off the country's coast.

As Bloomberg notes, even before the waiver was revoked, Iran had difficulty finding buyers. According to traders, in recent days Iranian suppliers have been actively offering oil to refineries in Japan, South Korea, and Taiwan, but no confirmed deals outside of China have been recorded. Experts believe that Tehran will now likely have to sell oil at significant discounts to find new buyers.

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