May 26, 2024

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Passion For Business

Iran Releases South Korean Oil Tanker Seized Over Frozen Funds

Iran produced a South Korean oil tanker that had been at the centre of a dispute about punishing U.S. sanctions on Tehran, the similar day Western and Iranian officials agreed to proceed talks aimed at reviving the embattled 2015 nuclear accord.

The Hankuk Chemi, a South Korean-flagged ship that Iran impounded in January, still left an Iranian port at 5:50 a.m. community time on Friday, South Korea’s Foreign Ministry said. Tehran initially seized the ship, together with its captain and 19 crew customers, for what it said ended up violations of environmental principles.

South Korea compensated $100,000 for the launch of the ship—lower than Iran’s inquiring cost of $14 million, according to a Western formal briefed on the talks. The South Korean Foreign Ministry didn’t reply to requests for comment.

Iran detained the Hankuk Chemi’s captain right up until Friday. Some of the crew customers had been produced previously and went back to South Korea, though some others stayed on the ship for upkeep uses.

“The wellness of the crew and captain are audio. The ship’s cargo is also in very good problem,” the South Korean Foreign Ministry said. A spokesman for Tehran’s Foreign Ministry said the ship was produced “following the completion of investigations” of its alleged misconduct.