Bloomberg: About 17 Million Barrels of Iranian Crude Oil Left Unattended Near Malaysia

Bloomberg reports that more than 10 tankers carrying Iranian crude oil, which are under U.S. sanctions, have been stranded near the shores of Malaysia, indicating a slowdown in Iran's oil transfer operations to China. In a report published on Thursday, April 7, it was noted that several of these tankers have been anchored in the waters around Malaysia for over a month without buyers. According to the report and based on ship routing information, at least 11 tankers carrying Iranian crude oil have either stopped or are moving at very low speeds around Malaysia this week. Bloomberg stated that these ships are carrying about 17 million barrels of Iranian oil and have gathered in an area located west of the Malay Peninsula, a point used for ship-to-ship transfer of Iranian oil. Based on information previously published by the 'United Against a Nuclear Iran' organization, Iranian oil in these waters is transferred to tankers 'with ambiguous and unclear ownership' and then continues its journey towards China or other destinations. Donald Trump has resumed the 'maximum pressure' policy against Iran since returning to the White House; a policy that includes efforts to 'reduce' Iranian oil exports to zero to prevent funding for its proxy militant groups in the region and to curb its nuclear ambitions. Bloomberg's report on Thursday stated that the transfer of Iranian crude oil from main export terminals like Khark Island to ship-to-ship transfer areas like Malaysia has been closely monitored in recent months following the implementation of the U.S. President's policy towards Iran. According to 'OilX' data, the Iranian oil stranded near Malaysia and Singapore is the highest amount since August of this year. It is unclear whether these shipments are waiting for ship-to-ship transfer or are waiting for Chinese buyers from private refineries. In recent years, Iran has utilized vessels known as the 'ghost fleet' for transferring and selling its oil; tankers that turn off their automatic identification systems and perform loading and unloading operations in the depths of the oceans, changing the oil's branding, and ultimately delivering it to ports in China. The Trump administration, in addition to sanctioning Iran's oil minister, has announced four rounds of economic sanctions against Tehran in the last two months, which include Iranian tankers and even small private refineries in China. According to Bloomberg statistics, more than two-thirds of the tankers carrying Iranian crude oil have been sanctioned since late February. The publication also predicts that U.S. actions are unlikely to completely halt oil trade between Iran and China. Meanwhile, the U.S. government stated on Wednesday that it has filed a lawsuit in the capital to seize the revenue from one million barrels of Iranian oil as compensation due to its connection with the Islamic Revolutionary Guard Corps.