The shift is part of a broader plan to rework its operations to insulate the company from supply chain shocks, tariffs and geopolitical tension.

According to the International Maritime Organization, some 20,000 civilian seafarers are stuck on board trapped ships and the other utility and support vessels.

The regulations allow the government to target foreign organizations and individuals if they suspend normal trade with China in violation of market rules.

Satellite photos from the European Union’s Copernicus Browser show a vessel on fire in the area on March 28, and it disappearing by April 2.

The declaration has the potential to unleash as much as 3 million barrels a day of Iraqi oil cargoes.

The charges deliver on threats the president made last fall to impose 100% tariffs on branded or patented medicines unless companies move production to the U.S.

The three ships transiting are particularly interesting because they are the largest type of oil tankers and the first LNG carrier to escape the gulf since the war began. 

The allegations add another point of tension between the U.S. and China ahead of President Donald Trump’s scheduled visit to Beijing in May.

As the crisis drags on, many Asian countries are pledging deeper energy cooperation with diplomatic friends.

The deal comes after China cleared Argentine corn imports in 2024, and as the South American nation has recently kicked off a bumper harvest.