Iranian tankers are hiding in Iraqi waters to do their ship-to-ship transfers of crude oil to avoid U.S. sanctions, the Wall Street Journal reports , citing documents and U.S. officials. The Iraqi port of Al Faw is one regularly used point of transfer, according to the sources and the documents. There, Iranian tankers offload the crude to other vessels where it is mixed with oil from other sources, such as local crude, to avoid detection. Apparently, such transfers have grown into a lucrative business for the parties involved, who then sell the mixed oil as Iraqi. Ship-to-ship transfers, not just off the Iraqi coast but elsewhere, too, have become Iran’s go-to method of getting its crude oil to foreign buyers amid the sanctions. While production of crude oil has declined substantially following the re-introduction of U.S. sanctions against Tehran, the country is still exporting over 800,000 bpd, as of […]