Iran expands its oil tanker fleet

(MENAFN) Iran is selling more oil to China and is boosting its fleet with more vessels, ignoring international sanctions due to its nuclear program, Tehran Times reported. "Iran continues to expand its shipping fleet in a bid to sustain crude sales in the wake of increasingly stringent international sanctions," the International Energy Agency (IEA) said. Tehran enlarged its fleet to 37 VLCCs by adding four more of the supertanker. Its fleet also includes 14 small tankers. The nuclear program in Iran caused the US and the EU to implement sanctions to limit exports of Iranian oil; a move that aims to cripple the country's economy since oil is its first and foremost source of revenue.