US confiscates Iran oil cargo on tanker amid Tehran tensions

The US confiscated Iranian oil on a tanker at sea in recent days in a sanctions enforcement operation, three sources said, and days later Iran seized another oil-laden tanker in retaliation, according to a maritime security firm.

As oil markets remain jittery, the cargo seizure is the latest escalation between Washington and Tehran after years of sanctions pressure by the US over Iran's nuclear program. Iran does not recognize the sanctions, and its oil exports have been rising.

Tehran says its nuclear program is for civilian purposes while Washington suspects Iran wants to develop a nuclear bomb.

Maritime security company Ambrey said the US confiscation took place at least five days before Iran's action on Thursday. "Ambrey has assessed the seizure by the Iranian Navy to be in response to the US action," it said in an advisory to clients.

"Both tankers were Suezmax-sized. Iran has previously responded tit-for-tat following seizures of Iranian oil cargo." READ MORE