The International Energy Agency says the new U.S. sanctions will have a significant impact on Iran’s oil exports.
The International Energy Agency states that the recent U.S. sanctions on the shadow fleet of Russia and Iran are likely to have a significant impact on the oil revenues of these two countries.
The report adds that about one-third, equivalent to 500,000 barrels per day, of Iran’s oil in 2024 was exported by tankers that were recently added to the U.S. blacklist.
The United States sanctioned 35 tankers of the Islamic Republic’s shadow fleet after Iran’s second missile attack on Israel.
Last Friday, it also sanctioned over 160 tankers involved in Russian oil exports, eight of which were also involved in smuggling Iranian oil.
The shadow or ghost fleet refers to a collection of tankers that smuggle sanctioned oil by turning off their automatic identification systems and forging documents.
So far, nearly 500 tankers associated with Iran’s shadow fleet have been identified, half of which have been sanctioned.