How Iran, China, and Russia Use the Shadow Fleet to Evade US Sanctions
Crude oil legally sanctioned by the United States and its allies today makes up an estimated 18% of global tanker capacity, or 6-7% of total unrefined petroleum flows — shares that have been growing. Increased pressure on Russian exports and US intervention in Venezuela have further constrained Russian flows and temporarily removed Venezuela, the smallest sanctioned producer, from the market. Iranian exports, however, remain largely untouched.