Iran Releases Seized Oil Tanker After Over a Year Amid Compensation Ruling

An Iranian court ordered the U.S. to pay $6.7 billion, and an oil tanker held by Iran for over a year was seen moving toward international waters. The Advantage Sweet was seized by Iran's navy in April 2023, with Iran initially claiming it hit another vessel. The event is tied to a dispute involving sanctions.

An oil tanker held by Iran for over a year has commenced its journey toward international waters, as indicated by tracking data available on Thursday.

The vessel, Advantage Sweet, was initially captured in April 2023 by the Iranian navy as it approached the Strait of Hormuz. This movement follows an Iranian court's decision demanding the U.S. Government pay over $6.7 billion for sanctions-related disruptions affecting a Swedish company's supply of medical supplies.

Despite Iran's original claim that the tanker had collided with another vessel, no evidence supported this assertion. Iranian officials later connected the tanker's seizure to Thursday's court ruling.