They’re Back!

22 Jan 2016:  Iranian oil re-enters the world markets.  Last weekend, international sanctions related to Iran’s nuclear program were lifted after the International Atomic Energy Agency verified that Iran had completed the key physical steps triggering sanctions relief. Some of the immediate questions facing the tanker market are: When will the additional oil start flowing; Which/whose ships will be used and where will it go? After four years of sanctions, it is no surprise that there is a great deal of uncertainty around what can be done, especially since a host of U.S. sanctions remain in place. U.S. citizens continue to be generally prohibited from engaging in transactions or dealings involving Iran, including the Government of Iran and Iranian financial institutions.   Download here