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The Trump administration is exploring a strategy to halt and examine Iranian oil tankers at sea as part of an international agreement aimed at curbing the spread of weapons of mass destruction.
What Happened: According to Reuters, Trump officials are considering enabling allied nations to stop and inspect vessels passing through critical maritime routes such as Asia's Malacca Strait.
Such actions could delay crude deliveries to refiners and potentially damage the reputations of those involved in facilitating these trades.
The administration is evaluating whether these sea inspections could be conducted under the Proliferation Security Initiative (PSI), a U.S.-led program launched in 2003 with the participation of over 100 countries to prevent the movement of weapons of mass destruction.
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Why It Matters: Opponents of Tehran's oil revenue say it supports nuclear proliferation as well as terrorism.
However, past attempts to seize Iranian oil have sparked retaliation from Tehran. In 2023, Iran seized foreign ships—one chartered by Chevron (NYSE:CVX)—after the U.S. attempted to intercept Iranian oil cargoes.
“You don't have to sink ships or arrest people to have that chilling effect that this is just not worth the risk,” said one source, emphasizing that delivery delays could sow uncertainty in illicit trade networks.
Analysts warn that the longer sanctions remain in place, the more Iran and its oil buyers will find ways to circumvent them.
With Iran's oil revenues largely tied to exports to China, any prolonged disruption could have significant economic impacts.
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