Iran’s Revolutionary Guards have seized a vessel in the Gulf for allegedly smuggling 250,000 litres of diesel fuel to the United Arab Emirates.
The Gulf’s changing security could have serious economic implications as the U.S. continues to disengage from the region.
Iran’s foreign ministry said the British-flagged chemical tanker Stena Impero, which Iran had detained in mid-July, will be released soon.
Coast guard officials from Iran seized a boat on Saturday and arrested 12 Filipinos, who they claimed were part of a “fuel-smuggling ring” in the Strait of Hormuz.
The attacks on tankers have pushed up the operating costs and prompted market participants to scale up their security procedures
Iran will free seven crew members, including five Indians of the detained British tanker, Stena Impero, announced Iranian officials on Wednesday, September 4.