The U.S. revoked Iran's oil sales waivers, leaving approximately 63 million barrels of Iranian crude oil stranded at sea.

BlockBeats News, July 8, citing Vortexa data from Bloomberg, after the United States revoked the exemption for Iranian oil sales, about 63 million barrels of Iranian crude oil are currently stuck at sea, with most tankers remaining in the Persian Gulf and Asian waters and not yet having found buyers. Previously, the U.S. allowed Iran to sell crude oil within 60 days without sanctions, but this week it revoked the exemption on the grounds that Iran attacked tankers in the Strait of Hormuz, causing sales of a large volume of already loaded crude oil to be blocked.

Market participants say that due to factors including the sudden shift in U.S. policy, sanctions in Europe and the U.S., and insurance restrictions, Iranian crude oil exports are once again under pressure. Apart from China, no Asian refineries have publicly purchased Iranian crude oil so far. Industry insiders expect that Iran may need to further increase its discount efforts to attract overseas buyers.