Dozens of ships are stuck near Iran due to sanctions

More than 40 bulk carriers with agricultural products are stuck near Iranian ports. The reason is payment difficulties due to Western sanctions.

Food products are exempt from Western sanctions against Iran, but the impact of the sanctions on the country’s financial system has created complex and unstable payments with international companies, Asharq Al-Awsat reports. At the moment, the ships cannot unload – at least 40 bulk carriers are stuck near the main Iranian ports.

Iran’s Ports and Maritime Organization said earlier that some 37 ships loaded with 2.2 million tons of goods could not be unloaded due to “documentation and hard currency payment issues.”

One of the publication’s sources estimated that cargoes stuck at Iranian ports are worth more than $1 billion, with charterers facing delay costs.