Iranian Oil Tankers Head to Asia Under U.S. Sanctions Waiver
More than 30 oil tankers carrying over 50 million barrels of Iranian crude are heading to Asia after the United States temporarily eased sanctions on Tehran’s oil exports, allowing shipments to move openly for the first time in months.
The movement follows a Memorandum of Understanding (MoU) signed by the United States and Iran last week, which included steps to reopen the Strait of Hormuz and ease restrictions on Iranian oil exports. Shipping data shared by energy analyst Dr. Anas Alhajji, based on Kpler tracking, shows the tankers are sailing with their Automatic Identification System (AIS) transponders switched on instead of operating as part of Iran’s shadow fleet.
U.S. Treasury Issues 60-Day General Licence
The U.S. Treasury has also issued a 60-day general licence, effective from June 22 until around August 21, allowing the production, delivery and sale of Iranian crude oil, petroleum products and derivatives. The licence also covers related banking, insurance and shipping services.
U.S. Treasury Secretary Scott Bessant said the waiver was issued after Iran agreed to keep the Strait of Hormuz open for international shipping and allow inspectors from the International Atomic Energy Agency (IAEA) into the country as part of ongoing negotiations. The temporary waiver is expected to remain in place while both sides work towards a broader agreement that could eventually end the sanctions.
Iranian Oil Shipments Mark Major Change
The latest shipments mark a major change from the situation just weeks ago, when a U.S. naval blockade left several loaded Iranian tankers stranded in the country’s waters. According to the source material, during the conflict the U.S. Navy fired Hellfire missiles at the engine rooms of internationally owned tankers in the Gulf of Oman, saying the ships were carrying sanctioned Iranian oil and violating the blockade.
One of those attacks reportedly killed three Indian seafarers. The two figures refer to different datasets. Kpler tracking cited by Alhajji shows more than 30 tankers carrying Iranian crude towards Asia, while UANI specifically tracked around 15 Iranian-registered tankers that departed Iranian ports.
China Expected to Remain Biggest Buyer
China is expected to remain the biggest buyer of Iranian crude, as it has been for several years, mainly through independent refiners. Other possible buyers include India and countries in Southeast Asia. The shipment is expected to provide a significant financial boost for Iran. With Brent crude trading at around $78 per barrel on June 22-23 and Iranian crude now selling much closer to global benchmark prices, the cargo of more than 50 million barrels could generate an estimated $3.75 billion to $3.9 billion in gross revenue.
Return of Iranian Oil Expected to Increase Global Crude Supplies
The return of Iranian oil is also expected to increase global crude supplies. Oil prices, which climbed above $100 per barrel during periods of heightened tensions around the Strait of Hormuz, have fallen back to around $78 as supply concerns eased. The sanctions waiver could also change how Iranian crude is shipped.
For years, many cargoes were transferred between vessels through ship-to-ship (STS) operations at Malaysia’s Eastern Outer Port Limits (EOPL) before continuing to Asia. Charlie Brown, Senior Advisor at UANI, said it remains to be seen whether exporters will stop using those established transfer networks.
Original Article: Over 30 Iranian Oil Tankers Carrying 50 Million Barrels Head To Asia Under U.S. Sanctions Waiver — Marineinsight