🔺 Uncertainty over 63 million barrels of oil from the Islamic Republic after the revocation of a sales authorization ▪ Tens of millions of barrels of oil from the Islamic Republic that had previously been loaded onto tankers are now in limbo after a temporary sales exemption was lifted. ▪ Based on calculations by Bloomberg, around 63 million barrels of oil from the Islamic Republic are currently at sea; some in the Persian Gulf and some in Asian waters. Many of these tankers have not announced clear destinations, or their status has been recorded in a way that indicates that no definite buyer for the cargoes has yet been found. ▪ The U.S. exemption, within the framework of a temporary agreement between the two countries, allowed the Islamic Republic to sell its oil for 60 days without buyers being exposed to U.S. sanctions. But after the recent attacks on tankers, this exemption was revoked.