Saudi Arabia has reportedly banned Iranian oil tankers from entering its waters in an effort to slow Iran’s oil exports.

The Iranian ships are restricted from entering Saudi ports, and Bahrain, a Saudi ally, has issued similar restrictions. Also, Iran has been unable to access some oil in storage at a facility in Egypt, which is partially owned by Saudi Arabia. The efforts may have had an impact, as even Iranian oil executives admit that they have been somewhat stymied. Oil sitting in floating storage off the coast of Iran has climbed by 10 percent this year to 50 million barrels.
Before western sanctions Iran used to send oil by the SUMED pipeline across Egypt, allowing oil to move from the Red Sea to the Mediterranean Sea. The FT says that Saudi Arabia is blocking Iran from access to the pipeline, which would ease oil exports to Europe.
The Iranian fleet consists of 47 oil tankers, including about 20 purchased for the last two years and tankers of ULCC model.