US President Joe Biden is reportedly mulling a new addition to his sanctions blacklist: a network of companies accused of using ship-to-ship transfers to disguise Iranian crude as Iraqi volumes.
The Wall Street Journal reported on Sunday that the efforts could target a United Arab Emirates businessman tied to the network.
They are accused of transferring oil in the waters between Iran and Iraq in a bid to hide the cargoes’ origin and evade sanctions, according to corporate documents reviewed by the newspaper as well as shipping data and people familiar with the matter.
