Washington increases pressure on Iranian oil trade
The US government has sanctioned multiple entities and vessels that facilitate sales and shipments of Iranian oil and petroleum products.
IMAGE: Getty Images
The US Department of State has imposed sanctions targeting China-based petroleum terminal operator Qingdao Haiye Oil Terminal for importing “tens of millions of barrels of sanctioned Iranian crude oil.”
Qingdao Haiye operates a crude oil terminal in Qingdao Huangdao port area in China’s Shandong province.
Oil flow in the terminal often entails evasion schemes like illicit ship-to-ship transfers of Iranian-origin crude off the coast of Singapore known as the eastern outside port limits (EOPL), the US state department said.
“These STS transfers were conducted with other vessels which had previously been designated by OFAC [Office of Foreign Assets Control] for transshipping Iranian energy products.”
The terminal also conducts dark fleet operations that “employ deceptive shipping practices endangering legitimate maritime commerce,” the US Department of State said.
The latest action marks the twelfth round of sanctions targeting Iranian oil sale since 4 February, according to the state department.
The US state department has imposed sanctions on two vessel management companies – Thriving Times International and Onboard Ship Management – for their involvement in the transport and purchase of Iranian petroleum products.
It has targeted the Panama-flagged oil products tanker New Fusion, for transporting Iran-origin petrochemical products in 2024.
OFAC alleges that these vessels engage in other obfuscation techniques to hide their activities, like unsafe ship-to-ship (STS) transfers after daylight hours, Automated Identification System (AIS) spoofing, and conspicuous gaps in AIS location reporting.
By assembling a shadow fleet of poorly maintained vessels to circumvent sanctions meant to restrict the movement of Iranian crude oil, Tehran has effectively generated thousands of dollars in revenue to support regional armed groups, including the Yemen-based Houthis and the Lebanon-based Hezbollah.
By Aparupa Mazumder
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