Iran releases detained South Korean chemicals tanker

  • 09/04/21

Iranian authorities have released the South Korean-flagged Hankuk Chemi tanker that was seized in January, the two countries said today.

The chemicals tanker, its captain and other crew members left Iran earlier today, the South Korean foreign ministry said.

The vessel is heading south through the strait of Hormuz towards the UAE port of Fujairah, where it is due to arrive tomorrow, according to data from Vortexa.

The departure was confirmed by the Iranian foreign ministry. A release order was granted "following the completion of the investigation into the violation of the Korean vessel, and at the request of the owner and the Korean government," a spokesman said.

The Hankuk Chemi was seized by Iran's Islamic Revolutionary Guard navy in the strait of Hormuz early on 4 January while making its way from Jubail in Saudi Arabia to Fujairah.

Iran said at the time that the tanker had been detained because of "environmental pollution" in the Mideast Gulf, an allegation that South Korea repeatedly denied.

The seizure of the chemicals tanker came amid a growing diplomatic dispute between the two countries over a sum of around $7bn that Iran says it is owed by Seoul for past crude sales.

The funds have sat frozen in two South Korean banks since the country stopped all purchases of Iranian oil in 2019 ahead of the expiry of waivers on US sanctions against Iran. South Korea was one of the biggest buyers of Iranian crude and condensate prior to the reimposition of US sanctions, importing around 280,000 b/d during January-April 2019.

Talks on a rebooted Iran nuclear deal started in Vienna earlier this week. The discussions, which were described by participants as "constructive", centre on the potential for the US to return to the 2015 Joint Comprehensive Plan of Action nuclear deal, which would involve lifting US sanctions that have removed Iran's ability to easily export its crude in exchange for curbs on Tehran's nuclear programme.


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