THE INCIDENT: WHAT HAPPENED AND WHY DID IRAN SEIZE THE OIL TANKER?
In the Gulf of Oman, Iran captured a Marshall Islands-flagged oil tanker that had attempted to
escape after colliding with an Iranian vessel and injured several crew members. The Persian
Gulfs naval force of the Iranian army captured the ship. The Advantage Sweet oil tanker was
reportedly taken over by Iranian naval troops when it was “transiting international waters” in the
Gulf of Oman, according to the US Navy.
The detention of the oil tanker Niovi has rekindled
worries that Iran could pose a threat to shipping in the Strait of Hormuz, the Persian Gulf’s
narrow entrance through which a fifth of all crude travels. In the latest round of strikes or
seizures of commercial vessels, the US accused Iran of capturing another oil tanker in Gulf seas.
INTERNATIONAL RESPONSE: HOW HAS THE US AND OTHER COUNTRIES
RESPONDED TO THE INCIDENT?
The Marshall Islands-flagged Advantage Sweet was recognised as the captured ship by the US
Navy’s 5th Fleet, which also criticised Iran for its “ongoing harassment of vessels and
interference with navigational rights in area waters” and demanded that Tehran promptly release
Iran’s activities, according to the US Navy’s 5th Fleet stationed in the Middle East,
violated international law. In a recent operation to enforce sanctions, the US seized Iranian oil on
a tanker at sea; days later, Iran responded by seizing another vessel carrying oil. The navy
demanded that Tehran immediately free the tanker after claiming that its capture of the Advantage Sweet by the Iranian Islamic Revolutionary Guard Corps Navy had disrupted regional
security and stability.
ESCALATING TENSIONS: WHAT DOES THIS INCIDENT MEAN FOR THE ALREADY
TENSE RELATIONS BETWEEN IRAN AND THE US?
Tensions between the two nations have risen as a result of Iran seizing oil tankers and the US
seizing Iranian oil aboard a tanker at sea in recent days as part of a sanctions enforcement
operation. In a statement criticising Iran’s “continuing harassment of vessels and interference
with navigational rights in area waters,” the US Navy’s 5th Fleet demanded that Tehran
immediately release the ship.
According to Navy authorities, Iran’s seizure of another oil tanker
in Middle Eastern waters violates international law and weakens regional security, as claimed by
the US. At least a third of the world’s seaborne oil passes through the Strait of Hormuz, where
the US-bound tanker was intercepted. It is the most recent in a string of seizures or
IMPACT ON THE GLOBAL ECONOMY: HOW COULD THIS INCIDENT AFFECT THE
OIL MARKETS AND THE GLOBAL ECONOMY?
The tragedy might have an effect on the world economy and the oil markets. Oil is still used to lubricate
the world economy, and transportation systems depend on an uninterrupted supply of crude to refineries.
A disruption in the flow can lead to shortages within a few months, and Thursday morning’s increase in
the price of Brent oil to $62.64 per barrel reflected these worries. The Middle East’s biggest shipping
corridor and the crude cargo that passes through it are under jeopardy, but tankers can be redirected using satellite guidance to replace injured ships. The cargo seizure is the most recent escalation between Washington and Tehran following years of sanctions, and this comes as oil markets remain unsteady.
According to the US Navy, Iran has taken control of a Marshall Islands-flagged oil ship in international
waters in the Gulf of Oman. The Islamic Revolutionary Guard Corps Navy of Iran seized the Advantage
Sweet, disrupting regional security and stability, and demanded that Tehran release the tanker right now.
At least a third of the world’s seaborne oil passes through the waters where the US-bound ship was
detained, close to the Strait of Hormuz. The event is the most recent of several raids or attacks on
commercial ships in Gulf seas since 2019. Oil is still used to lubricate the world economy, and
transportation systems depend on an uninterrupted supply of crude to refineries.