The US Treasury on 3 December announced a raft of sanctions on 21 vessels and 14 companies it says “play a critical role in transporting illicit Iranian petroleum to foreign markets.” Most vessels and companies listed transported crude or oil products on behalf of either the China Concord Petroleum Company, originally sanctioned in 2019, or the National Iranian Oil Company, sanctioned back in 2020. The Treasury linked the sanctions directly to Iran’s “announced nuclear escalation” and its 1 October attack on Israel (MEES, 4 October).
Data intelligence firm Kpler identifies shipments for six of these vessels responsible for at least 136,000 b/d of crude and refined products to China in 2024, though the figure is likely higher. The recent round of sanctions targeted ten very-large crude carriers (VLCCs), following earlier efforts to target these supersized tankers (MEES, 18 October). So far this year Iran has exported an average of 1.57mn b/d of crude and condensate, hitting a peak of 1.84mn b/d in September, according to Kpler. (CONTINUED - 160 WORDS)