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 will likely 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 have recently been 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 more than 160 tankers involved in exporting Russian oil, eight of which were also engaged in smuggling Iranian oil.
The shadow or ghost fleet refers to a group of tankers that smuggle sanctioned oil by turning off their automatic identification systems and falsifying documents.
So far, nearly 500 tankers associated with Iran’s shadow fleet have been identified, half of which have been sanctioned.