ECONOMY

Iran releases cargo of oil tanker St Nikolas

Iran releases cargo of oil tanker St Nikolas

Iran has released the oil cargo of a Greek-owned, Marshall-Islands-flagged tanker it seized in the Gulf of Oman earlier this year, a shipping source said Thursday.

The vessel, M/T St Nikolas, is still being held by Iran, the source added. It was laden with 1 million barrels of Iraqi crude oil destined for Turkey when it was seized. “The cargo was released earlier this week after negotiations,” the source said.

The cargo was transferred onto the Turkey-flagged tanker T. Semahat earlier this week via a ship-to-ship transfer near Iran’s Larak Island, said Claire Jungman, chief of staff at US advocacy group United Against Nuclear Iran, which tracks Iran-related tanker traffic via satellite data

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