A Reuters investigation linked two Myanmar-bound fuel shipments to Iran, finding that traders’ contracts called the product South African diesel despite evidence pointing to jet fuel loaded at Bandar Abbas amid U.S. sanctions.
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated two people and six entities linked to Myanmar’s military in March 2023. Three companies were connected to importing, storing or distributing jet fuel for the military. OFAC later clarified that jet fuel bought for commercial airlines flying to and from Burma fell outside the stated aim of sanctions, which focused on activity for or tied to military-regime end users. Treasury announced the designations after the Feb. 1, 2021, coup, citing the military’s increased use of airstrikes in populated areas.
A 2024 report by U.N. Special Rapporteur Thomas H. Andrews said Myanmar obtained at least $80 million in aviation fuel through international banking channels in 2023, roughly 30% more than in 2022. The report named Tawan-Oil Trading among two Thai suppliers and linked aviation fuel to jets and helicopters used in attacks on civilian targets.
Reuters said it reviewed a Nov. 30, 2025, letter from Myanmar’s foreign-exchange regulator. The letter said import papers for one delivery would label the fuel “diesel instead of jet fuel” and permitted payment to Tawan from Dynamic Wave and National Energy Prime Aviation Services Company, which Reuters identified as Dynamic Wave’s client. It did not explain the reason for the label.
For a December 2025 delivery, Reuters reported, tanker Reef arrived in Myanmar waters with about 113,000 barrels. A $15.8 million contract between Dynamic Wave and Tawan described a comparable quantity as South African diesel. Shipping records, satellite imagery and SynMax Intelligence analysis pointed to jet fuel loaded at Bandar Abbas, Reuters said. It added that neither United Nations nor Vortexa figures listed a South African diesel sale to Myanmar in 2025.
Reuters also reported an earlier contract, from May 2025, that described 202,000 barrels as South African diesel and set a $26 million payment to Tawan. The tanker Noble reached Yangon on June 17, 2025, with slightly less than 200,000 barrels of jet fuel, according to the report.
Reuters assessed that sanctions appeared to have changed how some of the trade was documented without ending shipments. It said the sales earned Iran foreign currency and supplied Myanmar with fuel for commercial aviation and military air operations. Reuters said Dynamic Wave, Tawan, National Energy Prime Aviation Services Company, Myanmar authorities and Iran’s Foreign Ministry did not respond to its questions; the U.S. Treasury also did not answer questions about the reported cargoes.
