Commodities
Iran's Shadow Fleet Grounded by US Economic Pressure
The shadow fleet of Iranian oil tankers has been stranded in international waters near Sri Lanka due to American economic and military pressure. These vessels, part of Tehran's aging and disguised armada, have spent years smuggling Iranian oil under sanctions.
According to the Wall Street Journal, the tankers were supposed to return to Iran after unloading their cargo but cannot do so without risking attack or seizure by American forces.
The US naval blockade of Iranian ports and the Strait of Hormuz was renewed in July, breaking the cycle of ship-to-ship transfers that allowed the shadow fleet to operate. Dozens of Iranian and Iran-linked ships have been stuck in waters around Sri Lanka, Malaysia, and other Asian states since then.