Bessent Urges Asian Allies to Tighten Curbs on Iran Shadow Fleet
Summary
- Treasury Secretary Scott Bessent urged Asian allies to strengthen enforcement against Iran’s shadow fleet.
- The US is expanding sanctions on related vessels and shipping networks to block Iranian crude oil exports and curb its financing.
- Markets are watching how additional US sanctions and tighter maritime enforcement could affect global oil prices and crude supply chains.
Forecast Trend Report by Period
Treasury Secretary Scott Bessent urged Asian allies to step up enforcement against Iran’s “shadow fleet,” in a sign of mounting pressure under US sanctions on Tehran.
Bessent said on May 19 that Asian allies should actively monitor and block the activities of Iran’s shadow fleet, according to Walter Bloomberg.
The shadow fleet refers to a network that transports crude oil while disabling vessel tracking signals or falsifying shipping information to evade sanctions.
The US has recently expanded sanctions on vessels and shipping networks tied to Iran as it seeks to curb Iranian crude exports and restrict the country’s access to financing.
Washington believes trade in Iranian crude is continuing, particularly in China and elsewhere in Asia, the report said.
Markets are watching how additional US sanctions and tighter maritime enforcement could affect global oil prices and crude supply chains.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
