Iran's Shadow Fleet Takes Direct Hit in War Escalation

When Iran entered the conflict in February 2026, it had what looked like an economic insurance policy - a large merchant fleet, a national oil tanker company, and an extensive network of foreign tankers with opaque ownership. Tehran also had years of experience selling crude outside the Western financial system.

However, events have not unfolded as expected. Iranian ships have not disappeared, but the war has widened the gap between the number of vessels on the books and those that can actually enter Iranian ports, load oil or cargo, and leave safely.

The crisis escalated in September when US Central Command destroyed eight tankers linked to Iran in two rounds of strikes near Kharg Island and Jask. After the second round, the Islamic Revolutionary Guard Corps said it had targeted 10 vessels, including eight tankers and two American ships.