A flagless fleet is threatening the seas

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The story "A flagless fleet is threatening the seas" was covered 11 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 11h ago

A flagless fleet is threatening the seas - Financial Times

Quick Summary:

Well-entrenched workarounds have evolved over the past few years to avoid exposure to the US financial system, while shipowners, traders and charterers use regulatory arbitrage and operational subterfuge to move Iranian cargoes.

More than half of all tankers shipping Iranian petrochemicals are now under sanctions by western countries.

Chinese refineries source about one-third of imported crude from Russia and Iran, undermining US President Donald Trump’s “maximum pressure” campaign against Iran and defying G7 sanctions against Moscow.