The UAE is transshipping Iraqi oil exports via the Strait of Hormuz.

The Abu Dhabi National Oil Company has proposed a plan to transfer Iraqi oil to Asian refining companies via the Hormuz Strait. The Abu Dhabi National Oil Company has previously used transshipment operations: ships turn off their transponders for short voyages to transport crude oil out of the Persian Gulf. The Iraqi National Oil Marketing Company is offering significant discounts on oil prices to companies willing to route through the Hormuz Strait, with discounts on Basra Medium crude oil ranging from $25 to $27 per barrel.