Iran routes oil via Indonesia to keep up exports

By REUTERS
May 9, 2013 15:17

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user uxperience almost completely free of ads
  • Access to our Premium Section and our monthly magazine to learn Hebrew, Ivrit
  • Content from the award-winning Jerusalem Repor
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

LONDON - Iran is using an Indonesian port in a strategy to keep up sales to buyers in Asia in the teeth of Western sanctions, according to shipping data and industry sources.

Two Iranian very large crude carriers (VLCCs) able to hold 2 million barrels each sailed to Batam Island in April, according to AIS ship tracking on Reuters, which tracks global tanker movements, before moving on to China.

US and European sanctions aimed at pressuring Tehran's suspected pursuit of nuclear weapons have halved Iran's shipments, costing the government billions of dollars in oil revenue, since the start of 2012.

"Iran has been using this strategy for the past few months," said analysts at FGE, an energy consultancy. "The strategy is taking the crude to islands in Asia via VLCCs and selling it from there. It's a crucial stream of revenue for the country, so it's very important they sell as much as they can."

Related Content

Breaking news
July 22, 2018
U.S. launches campaign to erode support for Iran's leaders

By REUTERS