Shipbroker BRS Group believes the latest sanctioning of Iran’s tankers and energy companies will leave its oil and LPG exports largely unaffected.
The US Treasury Department last week announced 17 designations of ships it called “notorious offenders” in getting Iranian cargoes to customers.
Officials said the moves were likely to delay deliveries and add costs for Iran, affecting its ability to back Houthi and Hezbollah forces in Yemen and Lebanon.
However, BRS said: “Despite the wide-ranging restrictions, initial expectations are that it will have little impact on Iran’s ability to export its oil across the short-term.”
This is because the newly sanctioned tankers have “already flouted” US sanctions for a significant period and are understood to operate outside the US and European banking and shipping services systems.
“Indeed, even without the latest sanctions they would likely not have been able to lift from other countries,” the brokerage said.
“All told, it appears that unless they are refused access to ports by port authorities or receivers they will continue to ply their trade carrying Iranian oil and LPG.”
US treasury secretary Janet Yellen said the expanded sanctions were “decisive actions” aimed at disrupting Tehran’s ability to carry out destabilising activity in the Middle East.
The designations were the US response to Iran’s 1 October missile attack on Israel.
The Treasury Department described the vessels on the list as Iran’s “ghost” fleet.
Shipowners featured were based mainly in the United Arab Emirates and Malaysia.
The list comprised 10 VLCCs, but also MRs and aframaxes, plus one suezmax.
