(Reuters-NBC News) Luke Pachymuthu and Randy Fabi - Iran is using the little-known port of Labuan off the East Malaysia coast to hide millions of barrels of oil from Western sanctions. Iranian crude is shipped to the area and loaded at night onto hired tankers operating under the Panamanian flag to await potential Asian buyers. Iran would like to shift more oil to what is effectively a mobile storage depot off Malaysia's coast over the next few months, said an industry source.
2012-09-14 00:00:00Full ArticleBACK Visit the Daily Alert Archive