EconomicIran

Financial Times: Iran Turns to Floating Storage of Oil to Circumvent Sanctions

IranGate
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Financial Times: Iran Turns to Floating Storage of Oil to Circumvent Sanctions

Financial Times: Iran has resorted to floating storage of oil to circumvent the siege

The Financial Times reported that the Islamic Republic has increased the use of old tankers as floating storage tanks to maintain the flow of oil production and exports.

According to the report, Tehran is using old tankers anchored in the Persian Gulf to store crude oil and petrochemical products to alleviate some of the pressure from the U.S. maritime blockade.

The Financial Times also reported that currently, about 39 tankers carrying Iranian oil and petrochemical products are stationed in the Persian Gulf, with a large portion of these vessels gathered near the Kharg Island export terminal.

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