Iran ships over 50 million barrels of oil to Asia after US sanction relief

The United States issued a 60‑day general license that temporarily lifts sanctions on Iran’s oil exports following a recent memorandum of understanding. More than 30 tankers, carrying over 50 million barrels of crude, are now sailing openly toward Asian markets with AIS transponders turned on, a stark change from earlier covert “shadow fleet” movements.

Ships such as the Impala have departed the Kharg export terminal, heading through the Hormuz Strait. Analysts estimate that selling the cargo at around $70‑$78 per barrel could generate roughly $8.5 billion for Tehran. Major prospective buyers include China, India, South Korea and Japan, while the price of Brent and Dubai crude has eased since the shipments began.

The license also covers related banking, insurance and maritime services. It remains conditional on Iran’s continued cooperation with International Atomic Energy Agency inspections and the maintenance of the Hormuz maritime corridor. If negotiations falter, the United States may re‑impose the sanctions.