US Sanctions Against Oil-Cargo Inspector Jolt Singapore Traders

Washington’s sanctioning of a Singapore-based oil-services company has sent ripples through the local trading community, while renewing a focus on the clandestine supply chain that moves Iranian oil to China.

CCIC Singapore Pte — which provides quality inspections and verifies cargo origins — was blacklisted by the Treasury Department this week for allegedly inspecting Iranian oil shipments set for China, and concealing their true origin.