Tehran’s Ghost Fleet
A Chinese state-owned firm in Hong Kong has been helping Iranian ships get around U.S. sanctions
This June, a merchant ship flying the Hong Kong flag and sailing under the name of the Atlantic called at the Mexican port of Lazaro Cardenas—the southern end of a trade corridor to the U.S., advertised as "the fastest route to the heart of North America." That might be unremarkable, except the Atlantic, formerly called the Dreamland, and before that the Iran Saeidi, belongs to a curious network of 19 bulk carriers, all flagged out of Hong Kong and all blacklisted by the U.S. Treasury for their links to Iran.
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