Suggesting Finance
No Result
View All Result
  • Login
  • Home
  • Business
  • Finance
  • Mortgage
  • Banking
  • Credit Cards
  • Investing
  • Loans
  • Saving
  • Taxes
  • More
    • Markets
    • Economy
    • Real Estate
    • Crypto
Subscribe For Alerts
  • Home
  • Business
  • Finance
  • Mortgage
  • Banking
  • Credit Cards
  • Investing
  • Loans
  • Saving
  • Taxes
  • More
    • Markets
    • Economy
    • Real Estate
    • Crypto
No Result
View All Result
Suggesting Finance
No Result
View All Result
Home Business

Iran seizes oil tanker in Gulf of Oman

News Room by News Room
January 11, 2024
Reading Time: 4 mins read
0
Iran seizes oil tanker in Gulf of Oman

Iran has seized an oil tanker in the Gulf of Oman and is transferring it to an Iranian port in retaliation for the United States confiscating the same vessel and its oil last year, Tasnim News Agency reported Thursday.

The media outlet, which is associated with Iran’s Islamic Revolutionary Guard Corps, cited a statement from the Iranian Navy saying the seizure followed an order from an Iranian court.

“This tanker whose name was changed to St Nicholas and carrying oil in the Oman sea was seized in retaliation for the theft of oil by the American regime, with an order from the judicial courts, and is being transferred to ports of the Islamic Republic to be delivered to the judicial authorities.”

United Kingdom Maritime Trade Operations said earlier that a vessel in the Gulf of Oman had been boarded Thursday by at least four armed people and had diverted course toward Iranian territorial waters.

The ship’s Company Security Officer reported hearing unknown voices over the phone, after which communications with the vessel were lost, UKMTO said. The reported seizure happened early Thursday morning (around 10:30 p.m. ET Wednesday) in waters between Iran and Oman.

The armed “unauthorized” people who boarded the vessel were wearing military-style black uniforms with masks, the UK naval information service said.

The seizure of a tanker by an armed group comes at a highly sensitive time in the region. Container shipping through the Red Sea has been throttled by attacks by Iran-backed Houthi fighters on vessels. The Houthis, based in Yemen, say they are taking revenge for Israel’s war with Hamas in Gaza.

The biggest container shipping companies have been forced to divert vessels around Africa, hitting trade and pushing up freight costs. Oil executives worry that the Israel-Hamas war may escalate into a regional conflict and disrupt exports of crude.

The Strait of Hormuz at the northern end of the Gulf of Oman is the biggest oil chokepoint in the world. About 20% of the world’s daily consumption of oil passes through it every day. Crude prices climbed 2% Thursday.

A maritime monitoring website, Tanker Trackers, said the vessel seized Thursday was a Marshall Islands-flagged crude oil tanker named St Nikolas, formerly known as the Suez Rajan.

The Suez Rajan, which was at the center of a dispute between the United States and Iran, was seized by the US government last year after a court found that it was used to “covertly sell and transport Iranian oil to a customer abroad,” the US Department of Justice said in a press release.

The DOJ said “multiple entities” affiliated with the Islamic Revolutionary Guard Corps were involved in the scheme to “disguise the origin of the oil” and illegally sell it to China, according to court documents.

Almost 1 million barrels of Iranian crude oil were seized by the US government at the time, the DOJ said.

In April last year, the company operating the ship that was carrying the oil, Empire Navigation, pleaded guilty to conspiring to violate the International Emergency Economic Powers Act. The Suez Rajan transported the contraband to the United States and “incurred the significant expenses associated with the vessel’s voyage to the United States,” according to the DOJ.

CNN has contacted Empire Navigation and the Iranian mission at the United Nations for comment.

Read the full article here

ShareTweetSendSend

Related Posts

A key source of America’s economic power strengthened last month
Business

A key source of America’s economic power strengthened last month

October 17, 2024
Fox anchor tasked with interviewing Harris has a history of appeasing network’s pro-Trump audience
Business

Fox anchor tasked with interviewing Harris has a history of appeasing network’s pro-Trump audience

October 16, 2024
Walgreens is closing 1,200 stores
Business

Walgreens is closing 1,200 stores

October 15, 2024
Bath and Body Works apologizes for selling candles that looked like Ku Klux Klan hoods
Business

Bath and Body Works apologizes for selling candles that looked like Ku Klux Klan hoods

October 14, 2024
Boeing strike has already cost the company and workers $5 billion, new analysis shows
Business

Boeing strike has already cost the company and workers $5 billion, new analysis shows

October 13, 2024
Influencers rode out Hurricane Milton for the content. Why are we watching?
Business

Influencers rode out Hurricane Milton for the content. Why are we watching?

October 12, 2024

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Suggesting Finance

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Visit our landing page to see all features & demos.

LEARN MORE »

Recent Posts

  • American soybean farmers face financial crisis as China trade dispute threatens livelihoods
  • Mortgage rates fall for second straight week as shutdown, economic uncertainty weigh
  • IRS reveals 2026 tax adjustments with changes from 'big, beautiful bill'

Categories

  • Banking
  • Business
  • Credit Cards
  • Crypto
  • Economy
  • Finance
  • Investing
  • Loans
  • Markets
  • Mortgage
  • Real Estate
  • Saving
  • Taxes
  • Uncategorized
  • Privacy Policy
  • Terms of use
  • Advertise
  • Contact

© 2023 Suggesting Finance. All Rights Reserved.

No Result
View All Result
  • Home
  • Business
  • Finance
  • Mortgage
  • Banking
  • Credit Cards
  • Investing
  • Loans
  • Saving
  • Taxes
  • More
    • Markets
    • Economy
    • Real Estate
    • Crypto

© 2023 Suggesting Finance. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.