Sanctions News

Reliance Industries has rejected two Iranian oil cargoes as they failed to meet its compliance requirements, the Indian refiner said on Friday, just days before the expiry of a U.S. waiver that has lifted sanctions on Iranian oil exports.Last month, Washington issued 30-day waivers on U.S. sanctions allowing the purchase of Russian and Iranian oil at sea in an attempt to ease prices which soared after U.S.-Israeli strikes on Iran.Treasury Secretary Scott Bessent on Wednesday said the U.S.

A cargo of liquefied natural gas from Russia's Portovaya plant on the Baltic Sea that is under U.S. sanctions is on its way to India, LSEG shipping data showed on Wednesday.If it reaches its destination, it would be the first such delivery to India since U.S. President Donald Trump last year said Prime Minister Narendra Modi had assured him India would stop buying Russian energy.India has never publicly confirmed any such pledge and has said its buying decisions are guided by price, supply security and consumer interests.

The U.S. will not renew a 30-day waiver of sanctions on Iranian oil at sea that expires this week, and quietly let a similar waiver on sanctions on Russian oil expire over the weekend, two administration officials told Reuters on Tuesday, as the U.S. imposes a blockade on shipments from Iranian ports.Tuesday's move signals that "Treasury is going full force on Economic Fury" on Iran, an apparent reference to Operation Epic Fury, the U.S.-led military campaign against the country…

India has bought its first cargo of Iranian liquefied petroleum gas in years after the U.S. temporarily removed sanctions on Tehran's oil and refined fuels, LSG trade flows and three industry sources said.India had shunned energy purchases from Iran in 2019 under pressure from Western sanctions. The tanker was initially bound for China, according to LSEG data.Sanctioned tanker Aurora carrying Iranian LPG is expected to shortly reach the west coast port of Mangalore, the sources…

The U.S. may soon remove sanctions from Iranian oil that is stranded on tankers to help lift global supplies and reduce prices, U.S. Treasury Secretary Scott Bessent said on Thursday."In the coming days, we may unsanction the Iranian oil that's on the water. It's about 140 million barrels," Bessent told Fox Business Network's "Mornings with Maria" program."So, depending on how you count it, that's 10 days to two weeks of supply," he added.Bessent said the addition of sanctioned Iranian oil into global supplies would help keep oil prices down for the next 10 to 14 days.

Maritime companies face rising sanctions and compliance complexity as regulators increasingly expect risks to be detected before violations occur, according to a new report published by Marcura.The report “The Fragmentation Problem in Maritime Compliance” points to divergence between US, EU and other sanctions regimes. Secondary sanctions have expanded, and a growing shadow fleet continues to obscure ownership, insurance and trading histories. Together, these factors increase…

Venezuela can now pay for gas received from Eni with oil thanks to a recent easing of U.S. sanctions, unlocking a situation that had left the Latin American country with a large debt to the Italian firm, Eni's CEO said on Thursday."That's really a big upside. Before we were stuck for almost one year. That created a build up in our outstanding," Chief Executive Claudio Descalzi said during a post‑results call.Descalzi, who confirmed that Venezuela owes the Italian group around $3 billion…

The U.S. Treasury Department on Wednesday imposed sanctions on more than 30 individuals, entities and "shadow fleet" vessels it said enabled Iran's illicit petroleum sales, ballistic missiles and weapons production.Treasury's Office of Foreign Assets Control also targeted multiple networks that enable Iran's Islamic Revolutionary Guard Corps and Ministry of Defense and Armed Forces Logistics to secure the precursor materials and machinery required for ballistic missile and other weapons production…

U.S. diesel exports to Europe hit an all‑time high in January after the continent strengthened its ban on imports of Russian-derived fuel, and as discounted Russian diesel displaced U.S. fuel in Brazil, data showed and analysts said.The developments show how Western sanctions, aimed at punishing Russia over its invasion of Ukraine, are reshaping markets, allowing U.S. producers to capture premium markets in Europe while forcing Russia to seek customers much farther from home.Notably…

India has seized three U.S.-sanctioned tanker ships linked to Iran this month and stepped up surveillance in its maritime zone to curb illicit trade, a source with direct knowledge of the matter said on Monday.India aims to prevent its waters from being used for ship-to-ship transfers that obscure the origin of oil cargoes, the source added.The seizures and heightened surveillance follow an improvement in U.S.-India relations. Washington earlier this month announced it will cut import tariffs on Indian goods to 18% from 50%…

The U.S. Department of Defense conducted a maritime interdiction and boarding of the vessel Veronica III, which tried to defy President Donald Trump’s quarantine, the department said on Sunday."Overnight, U.S. forces conducted a right-of-visit, maritime interdiction and boarding of the Veronica III without incident in the INDOPACOM area of responsibility," it said in a post on X."We tracked it from the Caribbean to the Indian Ocean, closed the distance, and shut it down," it added.(Reuters - Reporting by Preetika Parashuraman in Bengaluru; editing by Philippa Fletcher)

Management at a Russian-owned oil refinery in Germany have privately warned Berlin that U.S. sanctions are hurting its business and threatening fuel supply for the country's capital and the region, according to correspondence seen by Reuters.In a January letter, management of the PCK Schwedt refinery, controlled by Rosneft, made an "urgent appeal" to economy and energy minister Katherina Reiche to resolve a standoff with the United States over the refinery's future.The letter outlines escalating problems at the refinery…

The EU has proposed extending its sanctions against Russia to include ports in Georgia and Indonesia that handle Russian oil, the first time it would target ports in third countries, a proposal document showed on Monday. The proposal, reviewed by Reuters, wouldadd Kulevi in Georgia and Karimun in Indonesia to the sanctions list, meaning European companies and individuals would be barred from carrying out transactions with the two ports.The sanctions package, which would be the 20th imposed by the EU over Russia's actions in Ukraine…

The captain of a Venezuela-linked crude oil tanker seized by the U.S. this month has been taken from British territorial waters and is now aboard a U.S. Coast Guard vessel, a lawyer for the captain's wife said on Tuesday.The U.S. Coast Guard and U.S. military special forces, bearing a judicial seizure warrant, apprehended the Russian-flagged Marinera in the Atlantic near Iceland on January 7 after pursuing it for more than two weeks as part of Washington's efforts to block Venezuelan oil exports.After its capture…

An oil tanker under EU sanctions for carrying Russian oil is being escorted to Tanger Med in Morocco by a Spanish rescue ship, Spain's Merchant Marine said on Tuesday.The Chariot Tide, which was sailing under a Mozambique flag and until November was known as the Marabella Sun, has been on an EU sanctions list since November 2024 for helping Russia export oil "while practicing irregular and high-risk shipping practices," according to the European Union. It has also been sanctioned by the UK…

The captain of an oil tanker intercepted by the French navy has been detained under investigations into whether it was operating under a false flag, the Marseille prosecutor’s office said on Sunday.The vessel named Grinch was seized in the Mediterranean on Thursday, then diverted to anchor off the French port city, on suspicion of being part of the shadow fleet that lets Russia export oil despite sanctions.The 58-year-old captain, an Indian national, was detained as part of the preliminary investigations, the prosecutors said in a statement that did not mention Russia.The vessel left the Russi

The United States on Friday imposed sanctions on nine vessels of what is known as the shadow fleet and eight related firms, the U.S. Treasury Department said, as the Trump administration sought to escalate pressure on Iran over the recent killing of protesters.The Treasury said the vessels and their respective owners or management firms, which include entities based in India, Oman and the United Arab Emirates, have collectively transported hundreds of millions of dollars’ worth…

The French navy on Thursday intercepted a Russian tanker in the Mediterranean suspected to be part of the shadow fleet that enables Russia to export oil despite sanctions."This operation was carried out ... with the support of several of our allies. It was conducted in full compliance with the United Nations Convention on the Law of the Sea," French President Emmanuel Macron said on X.The interception was carried out on high seas in the Western Mediterranean, between the southern coast of Spain and the northern coast of Morocco…

The U.S. military said it seized a Venezuela-linked tanker on Tuesday in the Caribbean, marking the seventh such apprehension since the start of U.S. President Donald Trump's month-long campaign to control Venezuela's oil flows.The U.S. military's Southern Command, which is overseeing nearly a dozen warships and thousands of troops in the Caribbean, said in a statement it apprehended the Motor Vessel Sagitta "without incident.""The apprehension of another tanker operating in defiance…

Panama's maritime authority on Thursday said it had canceled in January of last year the flag of the M Sophia, a Venezuela-linked oil tanker seized by the U.S. military this week.The U.S. military's Southern Command on Wednesday said it had intercepted the M Sophia before dawn, and described it as a "stateless, sanctioned dark fleet motor tanker." Panamanian authorities canceled the supertanker's flag on January 23, 2025, the AMP authority said in a statement.The maritime authority also said the Bella-1, a Russian-flagged tanker the U.S.

The UK Ministry of Defence (MoD0 announced on Wednesday that Britain had provided assistance to the United States during its operation to capture a "Russian flagged oil tanker" in the North Atlantic.After pursuing the tanker for over a month across the Atlantic, Washington was able to seize the vessel on Wednesday.Britain's armed forces provided "pre-planned operational support including basing," following a request from the United States for assistance.The report said that a naval vessel aided the U.S.

China received 22 shipments of liquefied natural gas (LNG) last year from two export projects in Russia sanctioned by the United States and European Union, shiptracking data showed.One shipment was from Portovaya and the rest were from the Arctic LNG 2 project, showed data from Kpler and LSEG.The U.S. and EU have sanctioned the projects to curb revenue reaching Russia following its invasion of Ukraine.Chinese state-owned China National Petroleum Corp (CNPC) and China National…

At least two oil tankers have made their way to Venezuela in recent days and others are navigating towards the country, a sign of state-run PDVSA's effort to expand floating storage and keep selling crude even as a U.S. blockade has reduced exports to a minimum.U.S. President Donald Trump this month announced a blockade of all sanctioned vessels going in or out of Venezuelan waters as part of a strategy to pressure Venezuelan President Nicolas Maduro. The U.S. move has cut oil exports this month to about half of their November level.The U.S.