In 2024, despite US sanctions, Iran’s oil exports remained high, benefiting from OPEC+ cuts and the ongoing lax enforcement of sanctions, US-based non-profit United Against Nuclear Iran (UANI) has confirmed.
The high export figures helped the regime to bolster its economic resilience while continuing its support for human rights abuses and proxies like Hezbollah and Hamas, UANI added.
In 2024, Iran exported 587 million barrels of oil, an increase of 10.75 per cent compared to 2023’s 530 million barrels. Over the four years since the start of the Biden Administration, with less than one month remaining in its term, Iran has exported a cumulative total of nearly 1.98 billion barrels of oil.
For the sixth consecutive year since the launch of UANI’s Tanker Tracker, China was the largest importer of Iranian oil, receiving 533 million barrels (an increase of 24 per cent from 2023’s 431 million barrels), constituting 91 per cent of Iran’s total oil exports (an increase of eight per cent from 83 per cent in 2023). UANI said this showcases what is now China’s near total dominance in importing Iranian crude, primarily driven by its Shandong province east coast “teapot” refineries.
Tanker trends: NITC and STS transfers
One of the most notable shifts in 2024 was Iran’s reliance on its National Iranian Tanker Company (NITC) fleet for direct loadings. Although NITC is also US-sanctioned, this represented a departure from previous years, where foreign-flagged vessels often carried oil directly from Iranian ports. In 2024, such activity significantly decreased.
This shift occurred as a direct result of the sanctions imposed this year, which targeted foreign-flagged vessels involved in transporting sanctioned Iranian oil. In response, foreign-flagged tankers were increasingly used in ship-to-ship (STS) transfers, particularly in international waters. UANI said this strategic adjustment reflects Iran’s effort to adapt to heightened sanctions enforcement and minimise the risks associated with the direct involvement of foreign-flagged vessels in its oil exports.
UANI impact
In 2024, UANI identified 132 new vessels engaged in smuggling Iranian oil, bringing the total number of ghost fleet tankers tracked to 477 vessels. In 2024, the organisation’s intelligence led to over 330 flag revocations and contributed to the designation of 139 vessels by the US government.
Notably, out of the 139 tankers sanctioned this year, 110 were previously identified by UANI on its Ghost Armada list, showcasing what UANI claims is the organisation’s “pivotal role in preemptive tracking.”
Increased targeting of flag states and companies enabling evasion
Many of the worst offenders (vessels transporting the most sanctioned Iranian oil) were designated during 2024 (one of these is the very large crude carrier Amor, which has since been sold for scrapping in India). However, there remain 325 vessels yet to be designated.
UANI said that in 2025, efforts must prioritise targeting flag states and the companies behind them that continue to provide registration to vessels engaged in transporting sanctioned Iranian oil. While 2024 saw a notable increase in due diligence by certain flag states, leading to the removal of numerous vessels from their registries, the problem persists. New and emergent flag states, often based in jurisdictions with limited regulatory oversight, have begun registering these vessels, and false registries—designed to obscure vessel ownership and operations—are a growing challenge.
Source » bairdmaritime