40+ ships with grain and sugar stuck in Iran due to sanctions

At least 40 bulk carriers with grain and sugar are stuck outside Iranian ports due to payment problems caused by Western sanctions against the country – as noted by sources familiar with the situation, TASS reports

According to Reuters, restrictions imposed by Western countries on Iran’s financial system have led to the emergence of complex and unstable settlement mechanisms with international companies. The latest payment issues have led to ships being unable to discharge cargoes. As follows from analytical company Refinitiv’s ship tracking data, at least 40 ships were stuck near the port of Bandar Imam Khomeini in the north-western part of the Persian Gulf and the port of Bandar Abbas in its southern part.

Reuters, referring to a November report from the Iran’s Ports and Maritime Organisation, writes that 37 ships loaded with 2.2 million tonnes of goods had not been able to unload due to ‘documentation and hard currency payment issues’ at Bandar Imam Khomeini.