US sanctions 121 ships linked to Iran’s IRISL …little oil market impact expected

The US Treasury Department on June 8 designated 121 tankers, container ships and other vessels owned or tied to Iranian shipper IRISL for additional secondary sanctions, but the action is expected to have limited impact on crude and oil product markets.

The list names two crude carriers, seven products/chemical tankers and six bunkering tankers.

Two of the medium-range tankers on the list — the Clavel and the Petunia — recently delivered Iranian gasoline to Venezuela, according to cFlow, Platts trade-flow software.

In addition to designating IRISL, or the Islamic Republic of Iran Shipping Lines, the secondary sanctions also named Esail Shipping, also known as E-Sail Shipping, of Shanghai.

The Trump administration last month warned the global maritime, energy and metal industries to be on guard for “illicit shipping” schemes that expose them to sanction risks, particularly with trades involving Iran, North Korea and Syria.

US Secretary of State Mike Pompeo said in a statement that IRISL has “repeatedly transported items related to Iran’s ballistic missile and military programs and is also a longstanding carrier of other proliferation-sensitive items” in violation of UN Security Council resolutions.

Pompeo added anyone “doing business with or otherwise supporting” IRISL or E-Sail is exposed to potential sanction risks.

“We urge government authorities worldwide to investigate all IRISL and E-Sail activity in your ports and territorial seas and take appropriate action to put a halt to it,” he added.

SOURCE: s&pglobal.com