Iran Keeps Oil Exports Flowing After 60-Day Waiver Ends, Shipping 12 Million Barrels
Updated
Updated · OilPrice.com · Jul 14
Iran Keeps Oil Exports Flowing After 60-Day Waiver Ends, Shipping 12 Million Barrels
3 articles · Updated · OilPrice.com · Jul 14
Summary
12 million barrels of Iranian crude were estimated to have moved on supertankers between July 7 and July 14, even after Washington canceled Tehran’s sanctions waiver and restored a naval blockade.
Mohsen Paknejad said exports are continuing “without interruption” because Iran kept its sanctions-evasion network intact and did not alter shipping strategy during the short-lived exemption.
Nine sanctioned Iranian tankers also went dark off Malaysia earlier this week carrying crude worth about $989 million, according to Windward, in a route tied to Chinese independent refiners in Shandong.
The export push comes as the mid-June waiver deal has effectively collapsed amid tanker attacks, U.S. strikes on Iran, Tehran’s retaliation against U.S. allies and renewed fighting around the Strait of Hormuz.