May 3, 2012. Europe's oil embargo on Iran is having unforeseen consequences in the shipping market, making it almost impossible to determine if vessels are using fuel that violates the sanctions. Supplies from Iran are a "vital blending component" to make ship fuel, known as bunkers. The nation accounted for about 8 percent of bunkers exported to Asia, the largest market, and about a third of the supply at Fujairah in the United Arab Emirates.