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09.10.26 - 22:00
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Treasury Hits Remaining ′Shadow Fleet′ Shipping Iranian Oil To Asia With New Sanctions (ZeroHedge)
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Treasury Hits Remaining 'Shadow Fleet' Shipping Iranian Oil To Asia With New Sanctions
The Trump administration is late this week moving to identify, punish, and cut off remaining tankers in Iran's so-called 'shadow fleet' which are still engaged in shipping Iranian oil to Asia.
Thursday saw the US Treasury impose sanctions on 17 vessels and their owners involved in transporting Iranian crude oil, petroleum products and petrochemicals - with these being mostly aging oil tankers which conduct ship-to-ship transfers and other evasive, concealment tactics.
via ShutterstockThe Treasury Department hailed the action as effectively neutralizing the vast majority of the Islamic Republic's remaining shadow fleet, through which Tehran still rakes in potentially billions in foreign oil sales, circumventing the ongoing US naval blockade of its ports.
However, it's commonly estimated that some 20 million barrels of Iranian crude remain aboard ships which are far outside the reach of the Persian Gul...
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