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Greek Shipping Company Pleads Guilty to Smuggling Iranian Crude Oil | $2.4 Million Fine

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Greek Shipping Company Pleads Guilty to Smuggling Iranian Crude Oil

A Greek shipping company has admitted to smuggling Iranian crude oil and has agreed to pay a fine of $2.4 million, according to documents from a US court.

First Public Admission by US Prosecutors

This public case against Empire Navigation is significant as it is the first acknowledgement by US prosecutors that nearly a million barrels of oil from the Swiss Rajan have been confiscated. Empire Navigation now faces three years of probation as part of a plea agreement.

Tensions Escalate between Washington and Tehran

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This issue with the tanker has further strained relations between the United States and Iran, despite ongoing efforts to release frozen Iranian assets in South Korea worth billions of dollars.

Attempts to Conceal Iranian Crude Oil

The court documents, along with satellite imagery, reveal that the Swiss Rajan attempted to hide the loading of Iranian crude oil by falsely claiming that it came from somewhere else. The tanker remained in the South China Sea near Singapore’s northeast coast for several months before abruptly changing course and heading towards Texas. The ship recently transferred its cargo to another tanker in Houston, and the US government has confirmed the seizure of this oil.

Failure of US Sanctions Policy

Despite stringent sanctions imposed by the United States on Iran, particularly on oil exports, Tehran has managed to continue exporting its oil to various countries. This highlights the perceived ineffectiveness of the US sanctions policy.

Source: RT+AB

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