• 2 days Retail On Pace For Most Bankruptcies And Store Closures Ever In One Year: BDO
  • 10 minutes America Could Go Fully Electric Right Now
  • 4 days Majors Oil COs diversify into Renewables ? What synergies forget have with Solar Panels and Wind Tirbines ? None !
  • 2 hours Clean Energy Is Canceling Gas Plants
  • 16 hours GAME CHANGER: MIT Startup Commonwealth Fusion says Commercial Product by early 2030s ! THIS CHANGES EVERYTHING..
  • 4 hours Rethinking election outcomes for oil.
  • 6 hours The Leslie Stahl/60 Minutes Interview with President Trump
  • 2 days America's Frontline Doctors - Safely Start Living Again!
  • 15 hours OP article : "Trump blasts Biden Fracking Plan . . . "
  • 2 hours Australia’s Commodities Heartland Set for Major Hydrogen Plant
  • 6 hours Video Evidence that the CCP controls Joe Biden
  • 18 hours Biden denies fracking ban
  • 2 days Is the coal industry on the way out?
  • 2 days "COVID Kills Another Oil Rally" by Tom Kool 10/16/2020
  • 3 days Conoco Pledges ‘Net-Zero’ Emissions in Break With U.S. Rivals

U.S. Seizes Websites Involved In Illegal Oil Trade

The United States announced today that it has seized three websites used by sanctions-violators to trade in crude oil, according to an official press release.

The websites were, according to the U.S. government, used by Iran to trade oil with Venezuela—two sanctioned countries that are not allowed to trade oil at all, let alone with each other.

The virtual seizure comes shortly after the physical seizure of tankers that the U.S. DOJ says were carrying oil products to Venezuela in violation of sanctions. That seizure involved over a million barrels of fuel that are now being held by the United States.

The three websites seized were that of Mobin International, Sohar Fuel, and Oman Fuel—“front companies” of Mohammad Madanipour--which the DOJ said had facilitated a fuel shipment from Iran’s Islamic Revolutionary Guard Corps to Venezuela.

The United States has been trying to cut off crude oil shipments from Venezuela and Iran, but Iran is still successfully exporting some oil—as many as 600,000 barrels daily, using ship-to-ship transfers at sea, with transponders turned off.  Most of Iran’s oil makes its way to China one way or another—if not directly, then indirectly.

Venezuela is managing to export 325,000 barrels daily, although this is mainly in the form of diesel-for-crude swaps, which are not in violation of the U.S. sanctions. Venezuela is grappling with a critical fuel shortage as its refining industry has been almost completely halted. Venezuela’s state-run oil company, PDVSA, has managed to start an additional refinery or two in recent weeks but has had little luck with keeping them operational for any meaningful length of time.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News