Iranian ambassador highlights 60-day oil waiver as chance for Petronas and Malaysia to deepen cooperation

KUALA LUMPUR, June 23 — The 60-day waiver on the sale of Iranian crude oil in the global market has opened the door for Iran and Malaysia to further strengthen economic cooperation, particularly in the energy sector.

Iranian Ambassador to Malaysia Valiollah Mohammadi Nasrabadi said the waiver allows countries to purchase Iranian crude oil and petroleum products without restrictions, creating opportunities for deeper collaboration.

“Any country now can buy oil and oil production from Iran, and there is no ban on such cooperation. For this reason, Malaysia also can, of course, come and buy oil from Iran,” he told reporters on the sidelines of the Global Maritime Economics Conference 2026, organised by the Maritime Institute of Malaysia here today.

The conference, themed “Advancing Resilience and Accelerating Sustainable Maritime Growth”, explores trends shaping global maritime economic growth amid ongoing geopolitical uncertainty.

Valiollah said the latest development provides an opportunity for Malaysia and Iran to expand cooperation across various sectors, particularly the economy, given the longstanding cordial relations between the two countries.

“There is a good chance for both sides to increase cooperation in the economic field, particularly because both countries enjoy very good relations in all areas, including politics, culture, science and technology.

“There are no obstacles, and I am sure technical negotiations can take place between the Iranian and Malaysian sides if Petroliam Nasional Bhd (Petronas) or any other company is interested in buying Iranian oil,” he added.

Petronas previously had interests in Iran’s upstream oil and gas sector. However, based on publicly available information, the national oil company no longer has any active upstream operations in the country following its exit from earlier gas field developments.

On whether the waiver would eventually be made permanent, Valiollah said the current arrangement remains valid for 60 days, with further negotiations expected to determine a final agreement.

“Both sides have agreed to continue negotiations towards a final agreement.

“The United States must show its commitment by implementing its promises and responsibilities,” he said.

Meanwhile, state-run news agency Anadolu, headquartered in Ankara, Turkey, reported that Iran has exported 36 million barrels of crude oil since June 15, while a roughly similar volume remains stored onboard vessels offshore awaiting delivery. — Bernama