Iran Just Got Handed a Sanctions Escape Hatch: Tankers Are Swapping Its Oil at Sea Beyond Malaysia’s Territorial Waters
4 Articles
4 Articles
Iran Just Got Handed a Sanctions Escape Hatch: Tankers Are Swapping Its Oil at Sea Beyond Malaysia’s Territorial Waters
Iran's shadow fleet is moving sanctioned oil through tanker-to-tanker transfers just outside Malaysian waters, with cargoes headed mostly to Chinese refiners. Washington is targeting the local firms that fuel and guide the tankers, but Malaysia doesn't treat U.S. sanctions as binding, and operators can simply move or rebrand.
Despite US sanctions, Iranian oil continues to flow onto the world market, especially to China. Its exports are also supported by a network of companies in Malaysia that supply tankers with fuel, repair them and provide other services. The United States is therefore extending sanctions to these companies as well. The goal is relatively clear. To significantly limit trade in Iranian oil.
The US is targeting service providers in Asia to prevent Iranian oil sales. According to the New York Times, the Washington administration is shifting its focus from tankers to companies providing services to these vessels in an effort to prevent Iranian oil from circumventing sanctions and reaching world markets. The Donald Trump administration is particularly targeting companies in countries such as Malaysia and Singapore that provide services…
Despite new US sanctions, millions of barrels of Iranian oil are still reaching the market through a parallel shipping network in Southeast Asia.
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