Sanctioned Tankers Move to Persian Gulf

Tankers previously used to transport crude oil from sanctioned countries are now shifting operations to the Middle East after being removed from sanction lists, according to OilPrice.

Two very large crude carriers that formerly transported Venezuelan crude are currently being utilized to export oil from the Persian Gulf. Additionally, two more carriers are en route to the Gulf of Oman after departing from South America, Bloomberg reported.

Shifting Fleet Operations

The deployment of these vessels follows plans announced earlier in the month by the U.S. administration to bring shadow tankers into the legitimate fleet to carry unsanctioned oil. The transition is driven by high freight rates resulting from surging demand in the Persian Gulf, where ship-to-ship transfers have become frequent and transit risks around Hormuz have elevated transport costs.

Energy Secretary Chris Wright stated that the administration aims to move vessels from the restricted fleet into the legitimate fleet without removing existing sanctions. Wright noted that the dark fleet comprises 1,600 tankers, and legitimizing a portion of these vessels could add a few dozen or a few hundred tankers to the global unsanctioned fleet.

Key Facts

• Two very large crude carriers previously used for Venezuelan crude are now exporting oil from the Persian Gulf.
• Two additional carriers are traveling from South America to the Gulf of Oman.
• The U.S. administration plans to integrate portions of the 1,600-strong dark fleet to handle unsanctioned oil amid high freight demand.