Iran has accelerated its oil exports following a temporary easing of US sanctions, gaining a 60‑day window to secure new buyers and generate vital revenue. According to Bloomberg, more than 20 million barrels of Iranian crude have been floating in Asian waters for at least a week, an 18 percent increase from the previous week. Data from Vortexa and Bloomberg show that since the sanctions were lifted last week, Iran’s total seaborne oil volume has reached between 58 and 68 million barrels, including both in‑transit and waiting cargoes.

About 90 percent of these floating cargoes have no confirmed destination, with many ships awaiting orders or listing Singapore as a placeholder port, a tactic often used for ship‑to‑ship transfers near the Malacca Strait. The sanctions relief came as part of an interim peace agreement, with Washington lifting restrictions on Iranian oil and ports in June. Tehran now has until mid‑August to finalize new buyers.

Iran reported that since the US naval blockade was lifted, it has shipped over 40 million barrels of oil to various countries, potentially strengthening its economic position and leverage in ongoing talks with Washington.