Japanese VLCC loads Iranian crude at Kharg Island

Japanese very large crude carrier (VLCC) Kisogawa loaded crude oil at Iran’s Kharg Island last week.

It will apparently be the final shipment of Iranian oil to Japan before its six-month sanctions waiver from the US expires, reported Platts.

Experts maintain that the 311,000dead tough cases—will continue to negotiate with the administration and are likely to keep their waivers,” a source told Platts. Japan is also hopeful of keeping the waivers.

In early February, a former US State Department official who managed sanctions on Iran during Barack Obama’s administration, said Iran will be able to sell an average 800,000 to 1 mbd of crude oil even if the US refuses to extend the waivers.

Amos Hochstein, now a senior vice president at Usbased liquefied natural gas company Tellurian Inc., said Iran could slip some of its oil exports past US sanctions—introduced last November 5—to a few countries which will purchase the crude with or without waivers because they “don’t care about exemptions”.

Iran has the world’s fourth-largest oil reserves and largest gas reserves.

Oil, gas and petrochemical exports are targeted by the energy sanctions imposed by Trump administration in contravention to international law that has irked almost all US allies expect Saudi Arabia and Israel.