An advocacy organisation claims that a vessel controlled by a Los Angeles based private equity business probably participated in the illegal transfer of Iranian crude oil at sea, despite American sanctions targeting the Islamic Republic following the failure of its nuclear deal with international powers. The company announced on Thursday that it is working with US federal investigators.
United Against Nuclear Iran made their charges in a letter dated Tuesday to Oaktree Capital Management, which manages more than $160 billion in assets. The Associated Press studied satellite photographs and maritime monitoring data that corresponded to the group’s identification of the vessels purportedly involved and showed them side by side off the coast of Singapore on Saturday.
The purported oil transfer comes as world powers and Iran meet in Vienna to discuss reviving the nuclear accord. In exchange for the relaxation of economic sanctions, especially those targeting Iran’s vital oil shipments, Tehran agreed to severely reduce its uranium enrichment.
Despite the restrictions, Iran claims to be selling billions of dollars more petroleum than before, possibly bolstered by energy prices reaching their highest level in years amid the ongoing Ukraine conflict. This makes the sales even more profitable and raises the difficulty of imposing sanctions if the Vienna talks fail.
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