Iran Seizes Greek Billionaire’s Product Tanker Near Strait Of Hormuz

A Greek-operated products tanker which was attacked by Iran last weekend has reportedly been towed to the north side of the Strait of Hormuz and is currently in Iranian custody.

Kavomalas is owned by Dynacom and was stuck twice near Kumzar, Oman, last week. The attack caused a fire on board the tanker, forcing all crew members to abandon the vessel.

Fortunately, everyone onboard was rescued by a tugboat, according to the UK Maritime Trade Operations (UKMTO).

Satellite images show that the tanker was recently towed to the northern side of the Hormuz, close to Larak Island, which is controlled by the Islamic Revolutionary Guard Corps (IRGC) Navy.

An oil spill was also observed trailing from the tanker’s port side, raising environmental concerns.

The one-year-old tanker was due to load over 500,000 barrels of oil in the Gulf when it was attacked, according to sources.

Dynacom, which is a part of the shipping empire of Greek shipowner George Procopiou, said that the company did not authorise any towing operation and is currently working to verify the ship’s current location.

The company had also said that any salvage efforts by friendly tugs could be met with restraint from Iranian forces and even lead to another attack, as the situation in the waterway remains critical.

Procopiou had recently remarked that ‘Greece has a tradition of breaking blockades’ and is known for operating in risky trade lanes.

However, since the crew members were rescued atleast a hostage situation has been avoided. Iran is currently holding two more foreign-flagged ships and their crew members and using them as leverage in the ongoing regional tensions.

Greek shipping companies such as Dynacom also operate specialised ice-class LNG Carriers for projects such as Russia’s Yamal LNG.

According to Greek officials, the planned EU sanctions would punish legitimate Greek commercial activity while countries such as France and Spain would continue importing Russian LNG.