An Iranian-flagged oil tanker is expected to retrieve part of its stolen cargo and sail back to Iran this week, after the Supreme Court of Greece rejected an attempt to block the release of the crude to Tehran.
“The Lana [oil tanker] is expected to get fuel later today and test its engine so that it can start the oil transfer at the end of the week and sail off,” a Greek official told Reuters.
The Lana, originally named Pegas, has been anchored off the Greek island of Evia for several months after being confiscated in coordination with the US.
Earlier this month, Greek courts approved the release of the Iranian oil, overturning the initial court order. The US, however, challenged the decision, bringing the case before the Supreme Court of Greece.
This saga started when Greek authorities – under the orders of the US Justice Department – impounded the Russian-operated tanker for allegedly violating EU sanctions imposed on the Kremlin.
Since then, Washington transferred part of the Iranian oil cargo to another ship, the Ice Energy, which is also moored off the coast of Greece.
During the illegal ship-to-ship transfer, the US-contracted crew caused an oil spill in Greek waters, with activist groups saying all parties involved “neglected the environmental consequences.”
The Iranian tanker was carrying 115,000 tons of oil, estimated at 700,000 barrels, before it was seized by Greece.
In response to this case of “maritime piracy,” the Islamic Revolutionary Guard Corps (IRGC) boarded and seized two Greek-flagged oil tankers in the Gulf in late May.
This is not the first time the US has illegally seized Iranian oil in international waters.
In August 2020, the US captured four Iranian tankers headed for Venezuela in the Strait of Hormuz. According to reports, the stolen Iranian oil was then sold for over $40 million.
Despite crushing US sanctions and the illegal seizure of its oil shipments, Iran has increased its international oil trade, and maintained exports of one million barrels per day (bpd) since the start of the Iranian new year.