MM News

The US confiscated Iranian oil on a tanker at sea in recent days in a sanctions enforcement operation, three sources said, and days later Iran seized another oil-laden tanker in retaliation, according to a maritime security firm.

As oil markets remain jittery, the cargo seizure is the latest escalation between Washington and Tehran after years of sanctions pressure by the US over Iran’s nuclear program.

Iran does not recognize the sanctions, and its oil exports have been rising.

Tehran says its nuclear program is for civilian purposes while Washington suspects Iran wants to develop a nuclear bomb.

Maritime security company Ambrey said the US confiscation took place at least five days before Iran’s action on Thursday.

“Ambrey has assessed the seizure by the Iranian Navy to be in response to the US action,” it said in an advisory to clients.

“Both tankers were Suezmax-sized. Iran has previously responded tit-for-tat following seizures of Iranian oil cargo.”

The US Navy said Iran seized a Marshall Islands-flagged tanker in the Gulf of Oman on Thursday, the latest seizure or attack by Tehran on commercial vessels in sensitive Gulf waters.

Iranian state TV said on Friday the tanker ignored radio calls for eight hours following a collision with an Iranian boat, which left several crewmen injured and three missing.

In 2020, Washington confiscated four cargoes of Iranian fuel aboard foreign ships that were bound for Venezuela and transferred them with the help of undisclosed foreign partners onto two other ships which then sailed to the US.