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A Times investigation reveals how lax government oversight allowed shadowy oil tankers, covered by American insurance, to fund Iran’s regime.

Last June, a rusting tanker named Sincere 02 picked up oil at an Iranian port and steamed across the Persian Gulf on its way to the United Arab Emirates.

(Bloomberg) -- Last June, a rusting tanker named Sincere 02 picked up oil at an Iranian port and steamed across the Persian Gulf on its way to the United Arab Emirates.Most Read from BloombergA 99% Bond Wipeout Hands Hedge Funds a Harsh Lesson on ChinaUkraine’s Army Chief Replaced After Rift With ZelenskiyEpstein Contacted Staley for Years at Barclays Using Go-Between, Court Filings ClaimBonds Fall After $25 Billion Sale as Stocks Churn: Markets WrapEinhorn Says Markets ‘Fundamentally Broken’ By

The New York Times tracked several oil tankers faking their locations while transporting Russian oil currently under Western sanctions, in an apparent effort to deceive their American insurer.

A sprawling network of maritime operations came to prominence soon after the invasion of Ukraine, helping Russia's oil exports continue substantially unscathed despite sanctions from the West.