News Oil 

U.S. ‘Deeply Concerned’ About Untrackable China Ships Carrying Iran Oil

“It was not clear what the Trump administration could do to stop the tankers from turning off transponders” writes Timothy Gardner for reuters.com. It has warned shipping companies, energy companies and port officials to be wary of trade in Iranian oil, in some cases telling them they could face sanctions for doing so.The administration believes that sanctions are on the verge of causing an economic depression in Iran, one of the officials said.Trump tightened U.S. sanctions in May in an effort to drive Iran’s oil sales to zero.Its oil exports have fallen to less than 400,000 barrels per day from about 2.5 million bpd.
 
Source: reuters.com



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