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Iran resumes illegal oil shipment to Syria



Iran has recently resumed illegal shipping of oil to Syria, with CNBC reports on Thursday, referring to data from thought-tracking companies.

With their legal oil export routes cut off at the end of all US sanctions requirements for their crude oil buyers. ] TankerTrackers for example said today that "We discovered the first delivery of Iranian crude oil to Syria since January 1 this year. One million barrels reached May 5."

Both TankerTrackers and ClipperData have discovered delivery of around 1 million barrels of crude oil from Iran to the Syrian port of Baniyas, home of Syria's largest refinery, in the first week of May. The idea they had tracked had at one point switched off the transponder ̵

1; a tactic that analysts believe Iran will start using more often to send and sell the oil "under the radar".

The US maximum press campaign against Iran led to the Trump administration ending all sanctions for Iranian oil buyers in its attempt to drive Iranian oil exports to zero.

Iran, on the other hand, accuses the US and its allies of using oil as a political tool and has repeatedly said that US sanctions cannot and will not bring Iranian oil exports to zero.

Analysts believe that Iran's largest oil buyer China may not completely stop buying Iranian Crude Oil as Beijing has said it would not comply with US sanctions imposed on Iran. Experts also believe that Iran will reopen and use several of its illegal oil channels to retain oil treatment and continue to receive revenue from the most precious export goods.

On Wednesday, Iran said it suspended some of its nuclear contractual obligations and threatened to resume enriching uranium to a higher level if the remaining signatures of the agreement – the EU, Russia and China – did not meet their obligations to Iran during 60 days, including protecting Iranian oil trade from US sanctions.

The United States responded to the flare of tensions with Iran with Iran's special envoy Brian Hook, who vowed that any attack on the US or its allies would be faced with a power plant.

By Tsvetana Paraskova for Oilprice .com

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