US Allows Sale of 4 Iran-Linked Sanctioned Ships, Opening Possible Exit for Shadow Fleet
Summary
- The US government issued licenses allowing the purchase of four ships under sanctions for transporting Iran-linked cargo.
- Market participants say the move could provide a legal exit route for part of the shadow fleet used to evade sanctions on Iran and Russia.
- Markets are watching how changes in US sanctions enforcement could affect the international crude shipping market and global supply chains.
Forecast Trend Report by Period
The US government has allowed the sale of sanctioned vessels tied to Iran, highlighting a possible shift in how it handles the so-called shadow fleet.
Walter Bloomberg reported on May 21 that the US issued licenses allowing a large shipbreaking company to buy four sanctioned vessels that had transported Iran-linked cargo.
The vessels are reportedly connected to a network linked to Iran. They are set to be dismantled and recycled.
The move could provide a legal exit route for part of the shadow fleet used to evade sanctions on Iran and Russia, according to market participants.
Shadow fleets tied to Iran and Russia have expanded rapidly as Western sanctions have tightened.
US authorities said this type of case-by-case license could be used more broadly in the future.
The approach could also help reduce the number of high-risk vessels in the global maritime shipping market.
Markets are watching how a shift in US sanctions enforcement could affect the international crude shipping market and global supply chains.
JH Kim
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