$600M in Iranian Oil May Be Seized by US as Blockade Continues

The US may be on the verge of seizing nearly $600 million in Iranian crude oil from three tankers. According to TankerTrackers.com, two of the vessels, Tifani and Majestic X, are currently sailing north along the coast of Brazil, while a third tanker, Davina, has recently entered the Atlantic Ocean.

The US has a history of pursuing forfeiture complaints against Iranian tankers, and the Trump administration has hinted at it as a step in the ongoing efforts to punish Iran. The Department of Homeland Security inspected the vessels after they were stopped under the right of visit, and reports suggest that the US will seek seizure orders.

The three tankers are carrying approximately six million barrels of Iranian crude oil, valued at around $600 million based on current market prices. Observers believe the ships are headed toward the United States, likely Texas, where the US will enforce its forfeiture.