Around 63 million barrels of Iranian crude oil have been stranded at sea after the United States ended its sanctions waiver.
According to Bloomberg, vessel-tracking data shows that tankers carrying millions of barrels of Iranian crude oil are either sailing or waiting at different locations from the Persian Gulf to the Strait of Malacca.
The report said that if a US blockade resumes amid rising regional tensions, nearly 50 million barrels of Iranian crude oil and refined petroleum products could also become stranded.
The United States recently reimposed restrictions on Iranian oil sales after accusing Iran of targeting commercial vessels in the Strait of Hormuz.
Following a memorandum of understanding between the United States and Iran, Washington had allowed Tehran to sell oil until August 21.
However, the US Treasury Department has imposed new restrictions and limited the permission period to July 17.
