As U.S. sanctions aim to disrupt Iran’s oil exports and cut off funding to its nuclear and military programs, Iranian actors have turned to a vast shadow fleet to continue their trade. This network relies on deceptive tactics such as AIS manipulation, false documentation, and opaque ownership structures to move millions of barrels of oil around the world without detection.
In this case study, Sayari analysts used graph technology and corporate ownership data to uncover how dozens of vessels and Panamanian-registered companies, many linked to sanctioned actors, are involved in this illicit activity. The investigation reveals how a small group of individuals controls a broader network of sanctioned and unsanctioned entities. While some companies and vessels have already been sanctioned, many others remain active, raising serious compliance risks for global regulators and businesses.
Download the full report to learn:
- How sanctioned vessels and companies are connected through shared beneficial ownership
- The role of deceptive maritime practices in evading detection and sanctions
- Why unsanctioned entities in the network deserve additional scrutiny
- How public and corporate data can help expose complex illicit trade structures
