world-economy

Iran Courts Major Asian Buyers as US Sanctions Waiver Opens Trading Window

Iran is actively pursuing agreements with Asia's largest oil importers as a 60-day US sanctions waiver takes effect. The temporary relief permits resumed exports and clears substantial cargo backlogs at sea. Mediators in Switzerland are continuing to negotiate the broader framework. Shipping through the Strait of Hormuz has resumed following the agreement, though operations remain fragile. Container carriers introduced emergency bunker surcharges during the conflict, creating double-charging concerns for shippers now reassessing fuel adjustment clauses. Spot rate premiums on Asia-Mediterranean routes have reached levels unseen since 2022, reflecting lingering supply chain disruptions. Industry observers caution that full normalization across shipping and logistics could take several months despite the agreement's immediate effect on trade flows.