At a moment the Persian Gulf is heating up given the highest tensions and exchange of threats in years between the US and Iran, Tehran is running the high risk gambit of restarting its crude transfers to Syria.
A new CNBC report finds, “Tanker-tracking firms believe Iran is once again shipping crude oil to Syria, resuming the illicit trade as tensions with Washington rise and the Islamic Republic faces increasing international isolation.” Specifically a one million barrel delivery was reportedly made through the Syrian port of Baniyas in early May, the first since the end of 2018, according to TankerTrackers.com and ClipperData.
Washington has recently vowed to cut off both Iranian exports and any and all Syrian imports of crude by force. “Analysts have widely predicted that Iran will step up efforts to smuggle oil into Syria and neighboring Iraq as the U.S. makes it more difficult for Tehran to ship oil to its few remaining customers, including China, India and Turkey,” the CNBC report found.
It appears Iran’s latest Syria crude delivery was accomplished by “ghosting” – which involves tankers switching off their transponders. – READ MORE