Bulletin
Investor Alert

Associated Press Archives | Email alerts

May 28, 2022, 6:55 a.m. EDT

Iran seizes 2 Greek tankers in Persian Gulf as tensions rise

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

or Cancel Already have a watchlist? Log In

By Associated Press

1 2

Tanker seizures have been a part of it since 2019, when Iran seized the British-flagged Stena Impero after the United Kingdom detained an Iranian oil tanker off Gibraltar. Iran released the tanker months later as London also released the Iranian vessel.

Iran last year also seized and held a South Korean-flagged tanker for months amid a dispute over billions of dollars of frozen assets Seoul holds.

“This incident is assessed to be a retaliatory action in line with a history of Iranian forces detaining vessels in a tit-for-tat manner,” maritime intelligence firm Dryad Global warned.

“As a result, Greek-flagged vessels operating within the vicinity of Iran in the Persian Gulf and Gulf of Oman are currently assessed to be at a heightened risk of interception and it is advised to avoid this area until further notice.”

Underlining that threat, Iran’s semiofficial Tasnim news agency warned in a tweet: “There are still 17 other Greek ships in the Persian Gulf that could be seized.”

Meanwhile, the Guard is building a massive new support ship near the Strait of Hormuz as it tries to expand its naval presence in waters vital to international energy supplies and beyond, according to satellite photos obtained by The Associated Press.

Talks in Vienna over Iran’s tattered nuclear deal have been stalled since April. Since the deal’s collapse, Iran runs advanced centrifuges and has a rapidly growing stockpile of enriched uranium. Nonproliferation experts warn Iran has enriched enough up to 60% purity — a short technical step from weapons-grade levels of 90% — to make one nuclear weapon if it choose.

Iran insists its program is for peaceful purposes, though United Nations experts and Western intelligence agencies say Iran had an organized military nuclear program through 2003.

Building a nuclear bomb would still take Iran more time if it pursued a weapon, analysts say, though they warn Tehran’s advances make the program more dangerous.

Israel has threatened in the past it will carry out a preemptive strike to stop Iran — and already is suspected in a series of recent killings targeting Iranian officials.

1 2
This Story has 0 Comments
Be the first to comment
More News In
Economy & Politics

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.