US sells off Iranian crude oil seized off coast of UAE

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The US has sold some 2 million barrels of Iranian crude oil after seizing an oil tanker off the coast of the United Arab Emirates, court documents and government statistics show, Report informs referring to The Associated Press.

The Iranian crude oil showed up in new figures released over the weekend by the US Energy Information Agency, raising the eyebrows of commodities traders as Tehran remains targeted by a series of American sanctions. The EIA figures included just over 1 million barrels of Iranian “crude oil imports” in March.

The oil came from the MT Achilleas, a ship seized in February by the US off the coast of the Emirati port city of Fujairah. US court documents allege the Achilleas was subject to forfeiture under American anti-terrorism statues as Iran’s paramilitary Revolutionary Guard tried to use it to sell crude oil to China. The US has identified the Guard as a terrorist organization since the administration of former President Donald Trump.