The sanctions-skirting secrets of shipping

A global network of deception

Subterfuge shipping is the darkest and most opaque sub-sector of energy commodities trading. It is currently dominated by a fleet of elderly tankers that keep oil and refined products flowing from Venezuela and Iran. For the last 36 months the fleet has evolved, coalesced and expanded to ply the world’s busiest waterways and collectively carry billions of dollars’ worth of oil without penalty each month, all beyond the reach of US authorities. The fleet operates outside the established international framework of maritime regulations with no real accountability or liability in the event of an environmental or safety disaster.

Read more in this white paper.