Brief by Shorts91 Newsdesk / 01:35pm on 23 Jun 2026,Tuesday Business
Iran is rapidly seeking to revive oil exports to Asia after the US granted a 60-day sanctions waiver, allowing Tehran to approach refiners in India, Japan, South Korea and other markets. Around 68 million barrels of Iranian crude and condensate remain on tankers, with over 80% lacking confirmed destinations. While India is geographically well-positioned to receive cargoes within days, refiners remain cautious due to uncertain US policy, existing supply contracts, insurance and shipping constraints, and ongoing geopolitical risks. Analysts believe China will remain Iran’s primary buyer, while India could emerge as a second-wave customer if sanctions relief proves durable and attractive discounts materialise for refiners. (PC: Reuters)
