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123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
The Department of the Treasury’s
Office of Foreign Assets Control (OFAC) hit Iran’s Minister of Petroleum,
Mohsen Paknejad, with sanctions yesterday as well as 10 more tankers and three
tugs.
Among the 10 tankers sanctioned, the
one most likely to grab the headlines is the 1997-built Comoros-flagged Itaugua, a VLCC currently moored off Bangladesh
awaiting demolition, something that is now unlikely to happen following
Washington’s designation.
The Seasky is also noteworthy in the latest American
rulings for its flag. The LR2 is accused of transporting tens of thousands of
metric tons of fuel oil on behalf of Iran to China. It flies the flag of San
Marino, a shipping register founded in 2021. Landlocked San Marino’s growth
will likely raise questions within European circles – its fleet growing by 663%
last year to 1.1m gt.
Three Southeast Asian tugs who have aided Iran’s
ship-to-ship transfers to get oil to China are also part of this third wave of
sanctions handed out by the Trump administration in less than two months since
the new government came to power.
“The Iranian regime continues to use
the proceeds from the nation’s vast oil resources to advance its narrow,
alarming self-interests at the expense of the Iranian people,” said Secretary
of the Treasury Scott Bessent. “Treasury will fight and disrupt any attempts by
the regime to fund its destabilising activities and further its dangerous
agenda.”
Iran exports are estimated to have declined to
1.35m barrels per day on average during January and February, as compared to
their 2024 average of 1.70m barrels per day.
There are increasing reports of volumes
lifting from Iran but facing extended storage time in Southeast Asia as the
pool of buyers and ships available has tightened.
