Iran hijacks South Korean oil tanker in retaliation for funds blocked by sanctions

“Clean answer. “ This is how Tasnim, the press agency close to the Revolutionary Guards, the ideological army of Iran, reacted to the seizure by this body of an oil tanker flying the South Korean flag, Hankuk Chemi, January 4, in the Strait of Hormuz. Tasnim and other Iranian media have linked this seizure to the freezing of Iranian funds in South Korea – $ 7 billion, or 5.7 billion euros -, from the sale of Iranian oil and subject to the US sanctions. The Revolutionary Guards, for their part, justified the seizure by “Repeated violations of laws on the marine environment” by the tanker.

After the seizure of the tanker, the South Korean defense ministry sent the destroyer to the entrance to the Strait of Hormuz. Choi young – normally assigned to anti-piracy operations in the Gulf of Aden. Seoul announced the departure for Tehran of a delegation led by Koh Kyung-sok, director general of African and Middle Eastern affairs, in order to negotiate the release of the tanker and its twenty crew members. First Deputy Foreign Minister Choi Jong-kun to visit Sunday as both sides agree to resolve the dispute “Through diplomatic channels”.

Article reserved for our subscribers Read also The Strait of Hormuz, a strategic lock for the circulation of oil

Iranian funds stranded in South Korea have been a hot topic in Tehran in recent weeks. Iranian central bank director Abdolnaser Hemmati in December announced Tehran’s intention to use these funds to purchase Covid-19 vaccines through the international Covax initiative. The Islamic Republic remains the country most affected by the epidemic and, so far, no vaccine has been purchased by Tehran. The Iranian authorities point the finger at the American sanctions, reimposed on Tehran since the unilateral withdrawal of outgoing President Donald Trump, in 2018, from the Iran nuclear deal.

Renewed tensions

In Seoul, authorities talk about eight working group meetings on the issue of the use “For humanitarian purposes” frozen Iranian funds. South Korea is also said to have consulted the US Treasury, which allegedly granted it a “Special authorization” for the release of funds. However, says South Korean diplomacy, “The Iranian side has not made a decision because it remains concerned about the American reaction in case a money transfer ends up in the United States”. Washington could see it as a breach of sanctions. In December, Iran had already complained that it was unable to transfer the equivalent of $ 220 million from South Korea to purchase vaccines.

You have 49.85% of this article to read. The rest is for subscribers only.

LEAVE A REPLY

Please enter your comment!
Please enter your name here