Report: Trump Considers at Sea Inspections of Tankers Moving Iranian Oil

 

Since returning to the White House, Donald Trump has vowed to restore “maximum pressure” on Iran with targeting of the oil trade being a top priority. In an exclusive report, Reuters revealed today, March 6, that the Trump administration is considering ways to delay the shipping of Iranian oil by inspecting tankers.

Citing six unnamed sources, Reuters says the Trump administration is considering leveraging a 2003 agreement designed to stop the proliferation of weapons of mass destruction to slow the delivery of Iranian oil and increase pressure on the supply chain and counterparties. According to the report, tankers would be stopped for inspections in major sea lanes and critical points such as the Malacca Strait.

Reuters reports its sources told them the goal would be to slow down Iran’s oil exports and make it more difficult to meet delivery contracts. The concept is that it would further disrupt the supply chains and the critical revenues Iran gains from oil exports. One source speculated to Reuters that exports could be reduced by some 750,000 barrels per day.

Iran is reported to have made more than $50 billion in each of the last two years from oil exports despite Western efforts to increase sanctions. Further, TankerTrakers.com reported earlier this week that it calculated “Iran's crude oil exports were up by exactly 50 percent during February vs January.”

The fleet of tankers servicing the Iranian oil trade also continues to grow. The watchdog group United Against Nuclear Iran (UANI) maintains a database and says when it started in 2020 it listed 70 tankers. Today it lists over 510 tankers, many of which are known to be using false flags. TankerTrackers.com calculates the U.S. “has only blacklisted 234 (or 45 percent) of the 522 tankers involved in the Iran sanctions oil trade.”

Iran has repeatedly threatened to retaliate including citing its ability to close the critical Straits of Hormuz. The regime has in recent years taken a “tit-for-tat” response seizing tankers in the Persian Gulf after the U.S. attempted to seize oil cargos. Two Greek tankers and their crews were held for an extended period after the U.S. went after a cargo on a tanker disabled in Greek waters. Greek courts forced the U.S. to release the oil cargo but when the U.S. was successful in seizing another cargo Iran took more tankers including one under charter to Chevron.

Reuters cites a speech by Iranian President Masoud Pezeshkian where he last week acknowledged the new U.S. efforts. The new Trump administration launched two waves of sanctions in its first weeks including a dozen tankers it said were involved in illegal ship-to-ship transfers. Pezeshkian reportedly said the new actions were creating uncertainties about how to unload their oil and gas cargos.

Iran has shown strong resilience by adapting to the sanctions and adopting new measures. Bloomberg this week reported the use of more Aframax and Suezman tankers versus VLCCs. They cited eight smaller tankers involved in transfer in February saying these vessels provide additional flexibility. They said these ships were able to deliver the oil to smaller Chinese ports.

Iran media was quick to carry today’s report from Reuters on the new efforts. Government officials have yet to respond.