US Permits GMS to Scrap 4 Iran-Sanctioned Container Ships
Updated
Updated · Bloomberg · May 25
US Permits GMS to Scrap 4 Iran-Sanctioned Container Ships
1 articles · Updated · Bloomberg · May 25
April licenses from the US let ship recycler GMS buy and dismantle four container ships previously sanctioned over Iran—the Yogi, Timon, Rantanplan and Bigli.
GMS Chief Executive Officer Anil Sharma said the approvals are the first US permits allowing the purchase of carriers blacklisted over Iran for scrapping.
The four vessels were named in a Treasury Department notice last July, when Washington announced “massive action” against the fleet and entourage of Hossein Shamkhani.
That move links the recycling deal to a broader US sanctions campaign targeting networks tied to Iran-linked shipping and influential figures around the former leadership.
As the US permits scrapping sanctioned ships, is this the beginning of the end for Iran's entire 'dark fleet'?
While four ships face the scrapyard, where are the billions in oil profits from Iran's sanctioned Shamkhani network?