Russian oil tankers stranded at sea due to new US sanctions against Iran

Russian oil and oil products are trapped aboard four tankers after the US imposed new sanctions on Iran last week.

Source. Reuters reports with reference to LSEG data.

Moscow and Tehran are strengthening their cooperation in the face of tougher Western sanctions, while the West is trying to close loopholes to circumvent them and limit the revenues of both countries.

On 4 April, the United States introduced a package of sanctions that included the shipping company Oceanlink Maritime DMCC, which was suspected of delivering Iranian military goods.

The US is using financial sanctions to isolate Iran and deprive it of the ability to finance its proxy companies and support Russia's war in Ukraine, the US Treasury Department said.

The list of sanctioned vessels includes three tankers that took on Russian oil products in February-March and a tanker with oil.

The VLCC (very large crude carrier) tanker Anthea was loaded with Russian oil in the Laconian Gulf near Greece in a ship-to-ship (STS) transfer from two vessels in late March and has been anchored in the Suez Canal since early April with about 200,000 tonnes of Urals crude on board, according to LSEG.

Another sanctioned vessel, the Elsa, took on about 100,000 tonnes of fuel oil in March at a roadside berth off the Greek port of Kalamata, and the fuel was loaded onto two tankers in the Baltic ports of St Petersburg and Ust-Luga for transshipment at Kalamata.

Since 2021, the Elsa tanker has transported more than 9 million barrels of Iranian oil or fuel oil to the UAE, Singapore and China, according to Claire Jungman, chief of staff of the US-based advocacy group United Against Nuclear Iran, which tracks the movement of tankers linked to Iran.

LSEG data shows that the vessel has been near Singapore since early April.

The other tanker, the Hebe, was loaded in March with about 100,000 tonnes of fuel oil at the ports of St Petersburg and Ust-Luga. The tanker is heading towards the Suez Canal, but its final destination is unknown.

Another sanctioned tanker, the Baxter, was bound for India from the Black Sea port of Novorossiysk, but has been drifting in the Arabian Sea since 5 April, according to LSEG.

These vessels face serious obstacles due to secondary sanctions.

"Ports around the world are likely to deny them entry to avoid the consequences of violating these sanctions," Jungman said.

Background. Meanwhile, it was reported that despite the sanctions, more than 20 new tanker operators joined the transportation of Russian oil in March.