Kuala lumpur: The 60-day waiver permitting the sale of Iranian crude oil on the global market has initiated potential economic collaboration between Iran and Malaysia, particularly in the energy sector. Iranian Ambassador to Malaysia, Valiollah Mohammadi Nasrabadi, highlighted the opportunity for countries to purchase Iranian crude oil and petroleum products without restrictions, paving the way for strengthened bilateral cooperation.
According to BERNAMA News Agency, Ambassador Nasrabadi indicated that Malaysia could benefit from this window of opportunity by purchasing oil from Iran. His remarks were made at the Global Maritime Economics Conference 2026, organized by the Maritime Institute of Malaysia. The conference, under the theme 'Advancing Resilience and Accelerating Sustainable Maritime Growth,' seeks to address trends impacting global maritime economic growth amid ongoing geopolitical uncertainty.
Nasrabadi emphasized that the waiver facilitates the expansion of cooperation between Malaysia and Iran across various sectors, especially the economy. The longstanding cordial relations between the two nations in politics, culture, science, and technology further support this potential collaboration. He mentioned that there are no obstacles to technical negotiations between Iranian entities and Malaysian companies, such as Petroliam Nasional Bhd (Petronas), should there be interest in acquiring Iranian oil.
Petronas had previously been involved in Iran's upstream oil and gas sector but currently does not have active operations there following its exit from earlier projects. The ambassador noted that the waiver is temporary, lasting 60 days, with further negotiations anticipated to determine a lasting agreement. He called for the United States to demonstrate its commitment by fulfilling its responsibilities in the negotiations.
Meanwhile, Anadolu, a state-run news agency based in Ankara, Turkey, reported that since June 15, Iran has exported 36 million barrels of crude oil, with a similar volume still stored on vessels offshore, awaiting delivery.