The Islamic Revolutionary Guard Corps (IRGC) has seized a product tanker in the Persian Gulf and arrested the crew.
This is according to UK security agency Ambrey which reported that officers of the IRGC a primary branch of the Iranian Armed Forces detained the small coastal tanker Betelgeuse which was located at about 60 nautical miles off the coast of Bushehr.
The vessel, which the IRGC has alleged was involved in fuel smuggling, had loaded petroleum at Khor al Zubair in Iraq before heading towards the United Arab Emirates.
Iran subsidises petrol and diesel for public sale which makes its local retail price much lower than the wholesale price overseas. This has led to rampant fuel smuggling operations as syndicates are able to buy the fuel at below market value locally and then export it without a licence to sell it at the full price in neighbouring countries.
The IRGC said in a statement that the government had obtained a court order to seize the vessel, alleging that it was systematically involved in fuel smuggling.
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