Israel blocks Iran's fuel sale revenues

By News.Az

The National Bureau of Israel for Countering Terrorist Financing (NBCTF), operating under the Ministry of Defense, has announced sanctions against 18 oil tankers transporting Iranian oil. This decision aims to reduce Iran's revenues from fuel sales, which are a crucial part of its economy. The sanctions represent a significant step in Israeli policy, marking the first instance of sanctions against maritime vessels by Israel.

In its statement, the NBCTF emphasized that the tankers on the sanctions list are used by the elite Quds Force of the Islamic Revolutionary Guard Corps, which is actively involved in various military operations in the Middle East. These vessels systematically disable their tracking systems to avoid detection and deliver oil to Syria, where the revenues from these sales are funneled to support groups such as Hamas, Hezbollah, and Yemeni Houthis. These groups are considered by Israel to be terrorist organizations that threaten regional security.

The sanctions imply the possibility of seizing these vessels, which would be an additional step in combating the financing of terrorism. Israel also expressed its willingness to cooperate with international partners, such as the United States and the European Union, to persuade maritime companies not to provide services to Iranian tankers. It is important to note that international community support is a key element in the effectiveness of these sanctions.

Despite the gravity of the sanctions, the National Bureau has declined to specify whether the Israeli Navy will actively seize the vessels on the sanctions list if they approach Israeli shores. This leaves open the question of how far Israel is willing to go in enforcing these measures.

According to data from S&P Global Commodities at Sea, only five out of the 18 vessels ordered for seizure are already under Western sanctions. The remaining 13 tankers continue to operate actively in international markets, transporting oil from various countries, including Iran, Russia, Iraq, and the United Arab Emirates. This highlights the complexity of regulating international oil trade and the need for international cooperation to effectively enforce sanctions.

The situation is further complicated by the attacks of Yemeni Houthis that began in November 2023 in the Red Sea, the Gulf of Aden, and the Bab-el-Mandeb Strait. The Houthis, backed by Iran, control significant territories in Yemen and attack ships off their shores, claiming their actions are acts of solidarity with Palestinians in the Gaza Strip who are fighting against Israel. These attacks pose an additional threat to shipping in the region.

Since the beginning of 2024, the United States and the United Kingdom have launched retaliatory strikes against Houthi positions in Yemen, but this has only worsened the situation in the Red Sea. Many companies are forced to reroute their vessels around Africa, significantly increasing the time and costs of cargo transportation. This raises concerns about the stability and security of key maritime routes, prompting international alarm.

The introduction of Israeli sanctions and the further escalation of conflicts in the Middle East create a new reality that requires a comprehensive approach and international cooperation to ensure stability in the region.

News.Az