Russian oil and products trapped on tankers hit by new Iran-related sanctions

[File photo]

Russian oil and products have become trapped at sea on four tankers after the United States hit the vessels with fresh Iran-related sanctions, LSEG data showed on Friday.

The development shows how Moscow and Tehran have boosted cooperation in the face of rising Western sanctions and how the West is trying to untangle a complex web of firms to reduce the loopholes and revenue to both countries.

On April 4 the US imposed new Iran-related sanctions against a shipping firm Oceanlink Maritime DMCC and its vessels, citing its role in shipping commodities on behalf of the Iranian military.

The US is using financial sanctions to isolate Iran and disrupt its ability to fund its proxy groups and support Russia's war in Ukraine, the Treasury Department said.

The list of vessels under sanctions includes three fuel tankers, which loaded oil products in February-March...

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