UAE Shuttle Trade Under Fire from Iran Blacklist

The UAE's shuttle trade has been put to the test as Iran blacklists 45 vessels, including Adnoc-owned tankers. This move threatens the workaround tactics used by the UAE to keep crude moving during the war.

The blacklist includes ships that have been involved in ship-to-ship transfers and shuttle trades, which have allowed the UAE to maintain its oil exports despite the conflict with Iran. The UAE has relied on these tactics to circumvent US sanctions and ensure a steady flow of oil revenue.

Meanwhile, Adnoc has restarted production at Ruwais, the UAE's largest refinery, which is a significant development given the ongoing disruptions in the region. Additionally, Arada has joined the list of Emirati players investing in Syria's reconstruction with a $7 billion agreement.