Oil Tanker Captured By Iran Over A Year Ago Moves Towards International Waters

According to LSEG tracking data, a Chevron-chartered oil tanker captured by Iran over a year ago has started moving towards international waters.

In April 2023, Iran’s military seized the Marshall Islands-flagged oil tanker Advantage Sweet in the Gulf of Oman after a suspected collision with an Iranian boat.

The US State Department has appreciated the vessel’s release while condemning Iran’s illegal seizure from international waters.

However, neither Chevron nor Iranian officials responded immediately on July 11, 2024.

The movement of the Advantage Sweet coincides with the conclusion of a court case involving the tanker.

An Iranian court ordered the US government and officials to pay $6.8 billion for sanctions that allegedly prevented Iran from importing medicine for a rare skin disease, resulting in deaths and suffering.

In March, an Iranian court ruled in favor of patients suing the US government over the sanctions.

Following the ruling, Iranian officials said they would unload approximately $50 million of crude oil from the Advantage Sweet.

The tanker, transporting oil from Kuwait for Chevron Corp., was intercepted while passing through the Strait of Hormuz.

The Strait of Hormuz is a crucial shipping route for 20% of the world’s oil.

According to the Associated Press’ tracking data, the Advantage Sweet was unloaded while in Iranian custody and on its way to Khor Fakkan in the UAE.

The port has been the popular first stop for ships released from Iranian detention.

The court case was concluded on July 11, 2024, with the Iranian judiciary’s Mizan news agency reporting a final verdict ordering the US government to pay over $6.7 billion in compensation.

The case was filed on behalf of 300 plaintiffs, including victims’ family members who suffered from the rare genetic condition epidermolysis bullosa.

The illness causes painful blisters and has resulted in deaths due to a lack of medical supplies following the United States sanctions.

The decision comes amid increasing tensions between Iran and the United States. Following the United States’ unilateral withdrawal from the 2015 nuclear deal in 2018 under then-President Donald Trump, economic sanctions were reintroduced, resulting in a series of attacks and maritime incidents.

Iran has been accused of several maritime attacks, including limpet mine attacks in 2019 and a drone attack on an Israeli-linked tanker in 2021.

In recent events, Iranian-backed Houthi rebels in Yemen have initiated attacks on ships in the Red Sea amidst the Israel-Hamas conflict in Gaza.

The US military has confirmed that an Iranian-built anti-ship cruise missile was likely fired against a Norwegian-flagged tanker in December, linking the ongoing rebel campaign to Tehran.

Chevron claims that Advantage Sweet was detained under pretenses and has declared the cargo a loss.

The region’s complicated legal and geopolitical structure continues exacerbating tensions, threatening global oil supply routes and maritime security.

Reference: Reuters, Business Standard

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Source: Maritime Shipping News