Ports & Shipping

Pakistan & Gulf Economist

…Iran’s tankers become more active. Iran is overcoming trade barriers and sustaining a high level of crude oil exports by deploying more of its own sanctioned tankers, according to watchdog United Against Nuclear Iran. The nation’s petroleum industry is heavily sanctioned by the United States, but it continues to export a steady flow of about one million barrels a day into the global market; in fact, it is earning more money than it has in years thanks to rising oil prices. Its clandestine trading network relies on a small number of private shipowners who are willing to violate U.S. sanctions and evade detection in exchange for outsize financial returns.