Shipping Firms Look To Prevent Illicit Ship-To-Ship Oil Transfers ...Middle East

The world’s largest shipping companies have strengthened their regulations and scrutiny to avoid becoming unwittingly involved in illicit ship-to-ship transfers of crude oil, especially out of Iran and Venezuela which are under U.S. sanctions, executives told Reuters. As the United States tightened the sanctions against Iran and Venezuela’s oil exports over the last two years, the countries have become increasingly inventive in seeking ways to push their crude on the international market, hiding the true origin. If caught in such schemes,…

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