Iran to Auction Seized Oil Tankers Amid Smuggling Controversy

Iran plans to auction two seized oil tankers involved in smuggling activities, per a report from the Iranian judiciary's Mizan news agency. One of the tankers, named Ariana, captured by the Revolutionary Guards, was carrying 11 million litres of smuggled fuel before its contents were relocated to the National Iranian Oil Company.

Iran is set to auction two oil tankers that were confiscated due to their involvement in smuggling operations, the Iranian judiciary's Mizan news agency announced on Tuesday. The vessels, known as Sagha 2 and Ariana, will be sold at auction, according to a judiciary official cited by Mizan.

In a notable seizure in October 2022, Iran's Revolutionary Guards took control of the Panama-flagged vessel Ariana, which was transporting 11 million litres of smuggled fuel in the Gulf. The fuel was subsequently transferred to the National Iranian Oil Company following a judicial directive.

While details on the seizure of the Sagha 2 remain scarce, Iran has long struggled with widespread fuel smuggling, driven by its extremely low fuel prices and the depreciation of its national currency. Fuel smuggling often occurs to neighboring countries and Gulf Arab states, contributing to the ongoing energy sector challenges Iran faces.

(With inputs from agencies.)