US-Sanctioned Oil Tanker at India Scrapyard Reveals Odd Contract

The sale of a US-sanctioned tanker being pulled apart in India includes extended payment terms and measures to shield the identity of the owner, unusual clauses that point to growing pressure on older dark fleet vessels as sanctions enforcement tightens. . . . The payment terms and use of a shell company are measures intended to make it harder for the transaction to be traced back, while sweetening the deal enough for would-be buyers to take the risk, according to Charlie Brown, a senior adviser at United Against Nuclear Iran. It fits a trend in the trade of blacklisted ships, said Brown, who focuses on maritime sanctions enforcement at the advocacy group.