Iran's oil industry has been under harsh sanctions for nearly a decade,

and the U.S. imposes penalties on any countries that buy it.

And yet, Iran has found a way to keep selling its oil, primarily through a massive underground network.

The so-called shadow fleet of ships.

Tankers designed specifically to evade monitoring and sanctions.

Well, for Iran, this network has become a critical tool to keep its oil revenues flowing.

After the U.S. and Israel attacked Iran.

Iran closed the Strait of Hormuz, preventing other Middle Eastern countries from exporting

their oil.

But Iran has continued allowing this ghost fleet safe passage.

How important is this for the Iranian regime in its survival?

I don't think that Iran could have fought this war necessarily

without the billions and billions of dollars it's received,

equivalent of dollars is received from these oil sales over the years.

So this is a significant chunk of cash for Iran annually, and it's a vital lifeline for the country.

That is, until last week.

After peace talks collapsed, Trump announced a naval blockade on Iran's Gulf ports in an attempt

to shut down its ghost fleet.

Our colleague, Rory Jones, covers how money flows around the world and how the blockade is impacting this underground network.

Iran and countries like Russia and Venezuela that have been sanctioned,

they've used this shadow

fleet of tankers to move sanctioned oil around the world.

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