Iran finds smuggled crude on seized tanker

Iran seized the Togo-flagged tanker Pearl G in the Gulf on Friday, and it was carrying 700,000 liters of smuggled Iranian crude, Tehran's semi-official Tasnim news agency reported on Monday.

"Pearl G, which is owned by an Iraqi national residing in the UAE, was offloading smuggled oil from Iranian vessels," Tasnim reported, adding the vessel had been moved to the port of Bandar Imam Khomeini.

Iran, which has some of the world's cheapest fuel due to subsidies and the plunge in the value of its currency, has been fighting rampant smuggling by land to neighboring countries and by sea to Gulf Arab states.

LSEG tracking data shows the Pearl G has spent the last 90 days sailing between the coast of Sharjah in the UAE and points off the coast of Iraq.

The tanker with a crew of nine Indians was seized based on a judicial order, Tasnim added.

Its registered manager is Jinsung Marine Service Co Ltd, according to LSEG.

Reuters