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Iran Seizes $50 Million American Oil Cargo

March 6, 2024
Iran Seizes $50 Million American Oil Cargo

The Advantage Sweet oil tanker before being seized by Iran s Navy, off the coast of Oman. AFP

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In a retaliatory move against US-led sanctions, Iranian authorities have confiscated the American cargo of the oil tanker, Advantage Sweet, which was seized last year. The Marshall Islands-flagged vessel, chartered by Chevron Corp, had been apprehended in April 2023 while navigating the Gulf of Oman, a critical route for the oil industry.

The Tehran court, as reported by the Iranian judiciary’s Mizan Online website on Wednesday, issued an order for the seizure of the American oil cargo on Advantage Sweet. The confiscated cargo, with an estimated value exceeding $50 million, was linked to a series of sanctions imposed by Western countries, notably the United States. The sanctions had obstructed the entry of medication, specifically drugs needed for patients suffering from epidermolysis bullosa.

The court’s action was seen as a direct response to the impediments caused by the sanctions, particularly the prevention of sales crucial for treating the severe and life-threatening rare skin condition. In a 2021 report, United Nations experts highlighted the adverse impact of “over-compliance” with the sanctions on individuals with epidermolysis bullosa, causing extremely painful wounds. The report underscored the challenges faced by patients due to disruptions in the supply of effective treatments.

The Gulf of Oman, where the Advantage Sweet was seized, has witnessed numerous hijackings and attacks over the years, often involving Iran. The US military previously reported in January that Iran was holding “five ships and over 90 crew members hostage from vessels seized nearly a year ago.”

As tensions persist in the region, the confiscation of the American oil cargo adds another layer to the complex geopolitical landscape, with economic sanctions and retaliatory actions playing a significant role in the ongoing disputes between Iran and Western nations.

Tags: IranUS
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