Nearly a dozen massive oil tankers, filled with Iranian crude, are currently sitting idle off the coast of Malaysia. These ships, carrying around 17 million barrels of oil, have either stopped moving or are drifting at extremely slow speeds. Some of them have been waiting there for over a month, raising questions about why they are stuck and what this means for the global oil trade.
These tankers are positioned in a well-known oil-transfer hub east of Malaysia, where ships usually move oil between each other before sending it off to buyers. This location has become even more important in recent months, as Iran continues to sell its oil despite heavy sanctions from the United States.
The U.S. has been keeping a close watch on Iranian oil movements and has recently increased pressure by sanctioning ships, refineries, and storage facilities that handle the crude. As a result, it has become more difficult for Iran to get its oil to customers, particularly in China, its biggest buyer. Some analysts believe this is why so many tankers are stuck near Malaysia.
Levinson’s Mystery Deepens as US Sanctions 3 Iranian Agents
The Complications of Moving Iranian Oil
Transporting Iranian oil has never been easy due to international sanctions, but things have become even more complicated lately. Many tankers carrying Iranian oil try to stay hidden by turning off their tracking devices. This makes it harder to track their movements, but experts using satellite images have still managed to identify a significant number of ships stuck at sea.
OilX, a company that tracks oil flows, says that the number of Iranian oil tankers waiting off Malaysia and Singapore is the highest it has been since August last year. More ships are getting stuck, and fewer are making quick transfers. While ship-to-ship oil transfers usually happen smoothly in this region, the tightening grip of U.S. sanctions has slowed down the entire process.
One of the main problems is that the number of tankers willing to carry Iranian oil is shrinking. Many of the ships that previously transported the crude have now been blacklisted by the U.S. As of late February, about two-thirds of the vessels that handled Iranian crude this year have been added to Washington’s sanction list. This has led to desperate measures, with some ships changing their names and flags to avoid detection.
Iraq Busts Massive Iranian Oil Fraud! Fake Papers Used to Dodge Sanctions
Sanctions and Their Impact on Iran’s Oil Trade
The U.S. has recently taken strong action against those involved in Iran’s oil trade. Washington has not only sanctioned shipowners and oil storage facilities but has also blacklisted a private refinery in China that was buying Iranian oil. This has made buyers more cautious, causing delays in shipments and making oil transfers more complicated.
Despite these challenges, Iran is still finding ways to sell its oil. The country has a reserve of tankers, and reports suggest that more than 20 empty ships are currently anchored near Iran’s main export terminal, Kharg Island, waiting to load crude.
While the U.S. sanctions are causing delays, they haven’t been able to completely stop the trade. However, with more tankers getting blacklisted and fewer willing to take the risk, the entire process is becoming more difficult and uncertain.
For now, the situation remains tense. The number of oil-filled tankers stuck off Malaysia is growing, and the future of these shipments remains unclear. The world is watching closely to see what happens next.
