A US crackdown against a Moscow-backed Iranian oil smuggling network offers a window on the sanctions strategy in Washington. The takeaway for shipping is that enforcement against subterfuge oil networks is likely to be stepped up as nuclear talks collapse

The privatisation process is back on following ‘modifications’ to the original sell-off process, but bureaucratic hurdles and an increasingly prohibitive list of restrictions on the sale have resulted in waning interest from bidders

A tanker suspected of carrying Iranian crude oil has been roaming the Adriatic for weeks awaiting a decision from the Croatian government over whether to accept or reject the shipment labelled ‘Malaysian blend’

George Procopiou’s Dynacom has been hired to transfer US-sanctioned Iranian crude from the Russian-flagged tanker Lana, detained in April by Greek authorities on the basis of Russian sanctions, and transfer the oil to the US

While official figures from Sovcomflot have confirmed 14 vessels sold, Lloyd’s List has confirmed at least 23 sales to date, with several more in the works due to be completed over the coming days

At least four members of the Sovcomflot executive board, including long-serving executive vice-president and chief financial officer Nikolai Kolesnikov, have stepped down in the wake of western sanctions targeting the tanker giant. Sovcomflot’s Cyprus office has now been closed and the remaining UK operations are being directed by Moscow management