Tokyo-The nuclear deal agreed by Iran will lead to additional flows of its oil into Asia, arguably the world’s most dynamic oil market and one where top exporters are already locking horns in a battle for market share. But with the ink still drying on the agreement, most Asian importers, bound by existing contracts, are likely to tread cautiously until sanctions are lifted officially. Under the Joint Comprehensive Plan of Action (JCPOA), Iran must show by October 15 it has met its commitments, and the International Atomic Energy Agency will issue a final report by December 15.
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