Economics
Iran Seen Storing Crude Oil at Sea as Sanctions Disrupt Sales
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Iran is storing 30 million barrels of crude at sea as sanctions hinder exports and projects that would allow it to build onshore facilities to hold oil, according to E.A. Gibson Shipbrokers Ltd.
Fourteen very large crude carriers are storing Iranian oil, the London-based shipbroker said in an e-mailed report today. Sanctions are hindering exports and preventing the Persian Gulf country from importing the steel it needs to build storage plants on land, according to the report.