TradeWinds: UAE oil company fights Euronav over $35m lost ‘Iranian’ crude


"…Campaign group United Against Nuclear Iran (UANI) raised the alarm about the source of the reputed Iraqi cargo during the discharge from the Vietnamese-owned 105,200-dwt Abyss (built 1998) to the Oceania. The group claimed the Abyss had been spoofing its position and had loaded the cargo at the Iranian port of Bandar Mahshahr. Euronav’s own investigation backed UANI’s claims, and the US Justice Department subsequently issued a seizure warrant for the cargo. Euronav felt it had no alternative but to hand over the oil — valued at $25m to $35m by the American authorities — which was transferred to another tanker and taken to the US for sale, court documents show."