The US government seized three tankers tied to Iranian and Venezuelan sanctions evasion, capturing nearly six million barrels of crude worth roughly $600 million. Separately, Saudi Arabia has moved almost 100 million barrels to Asian buyers to cover a supply gap tied partly to the same blockade, while Russia raised its 2026 export forecast even as its own production falls.
The US government has seized three tankers linked to Iranian and Venezuelan sanctions in the Atlantic and Indian Oceans, capturing nearly six million barrels of crude oil valued at roughly $600 million. The Pentagon confirmed the interdictions, which targeted vessels allegedly tied to Iran's Islamic Revolutionary Guard Corps and Venezuela's state oil company, Petroleos de Venezuela S.A.
Three vessels, one blockade
The Skipper fell first, seized in late December 2025 while carrying approximately 1.8 million barrels of crude, with a forfeiture complaint alleging the shipment supported the IRGC. Next, US forces captured the Marinera, formerly the Bella 1, in early January 2026 after a multi-week pursuit across the North Atlantic, linking the ship to Hezbollah and crude that originated in Iran.
Finally, the Bertha was seized on February 24, 2026 in the Indian Ocean carrying approximately 1.9 million barrels of heavy Merey crude bound reportedly for China. Every barrel taken is one that doesn't generate hard currency for Caracas, since PdVSA remains the economic lifeline of the Maduro government.
Saudi Arabia fills the gap in Asia
Saudi Arabia has sold almost 100 million barrels of oil to Asian buyers since the middle of last week, according to traders familiar with the matter, easing a looming supply crunch in the region. The sale is equivalent to about one day of total global demand and more than doubles recent Saudi-to-Asia flows through the Strait of Hormuz.
The surge comes as Saudi Arabia's East-West pipeline, which bypasses Hormuz, remains not fully operational after an attack on September 10, pushing more crude through the strait instead. Buyers include Chinese state-run and independent refiners along with processors in India, Japan and South Korea, as Iranian flows have dried up under the US blockade and buyers have been avoiding Russian crude over rising political risk.
Russia leans harder into exports
Russia has raised its 2026 crude export forecast to 244.7 million tons, an increase of 7.5 million tons from its previous estimate issued in May. Its own production, meanwhile, is now forecast at 494.2 million tons, the lowest level since 2009, with the extra export barrels heading primarily to China and India and adding further competition for the Middle Eastern suppliers now racing to serve the same buyers.
Sources: Crypto Briefing, Rigzone, Crypto Briefing
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