Skip to content
Wednesday 29 July 2026London --:--Frankfurt --:--Zurich --:--
NewslettersSearchEN · DE
City PM

European business, markets and politics

FTSE 100
10,901.43
+0.28%
DAX
25,489.93
+0.10%
CAC 40
8,397.11
-0.73%
STOXX 50
6,262.89
-0.42%
  • Europe
  • Markets
  • Business
  • Economy
  • Technology
  • Politics
  • Opinion
More
GermanyFranceBankingAIEnergyFintechPropertyCapital Markets
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Economy
  • Technology
  • Politics
  • Opinion
  • DE
Monday 26 August 2019 11:31 am

Iran sells oil from seized tanker a week after it was released

By: August Graham

Add as a preferred source on Google

Iran this morning said that it has sold the oil being transported in one of its tankers, a week after it was released by authorities in Gibraltar.

The ship’s owner will decide where its next destination will be after the sale, said an Iranian government spokesperson, quoted by the IRIB news agency.

Read more: As tensions in the Gulf rise, is a war with Iran a possibility?

The Grace 1 tanker – which has since been renamed to Adrian Darya – had been wandering seemingly aimlessly in the Mediterranean after being released on 18 August. It had claimed at different times that both Greece and Turkey were its final destination. Its engines had also been running on low.

It had been stopped by Royal Marines in Gibraltar on suspicion that it was headed to Syria with its oil.

The country is currently under European sanctions as a civil war rages there.

The news came as Iran said it was sending its most advanced destroyer with long-range cruise missiles to the Gulf of Aden, between Yemen and the Horn of Africa.

Read more

As it happened: Stocks rise despite IEA warning of ‘critical’ oil issue

North Sea oil terminal with storage tanks and docking facilities under a clear sky, highlighting energy infrastructure.

The ship will provide security to Iranian ships, state-run Press TV reported. It will be accompanied by two smaller ships.

Tensions have been ramping up in the region for several months, with attacks on international tankers close to the vital Strait of Hormuz being blamed on Iran and its proxies.

Days after Britain seized the Grace 1, Iranian Revolutionary Guards boarded a British ship, the Stena Impero. It has not yet been released by Iran.

Last year US President Donald Trump sparked an escalation in already frosty relationships between Tehran and the West by ripping up an Obama-era agreement which limited the country’s nuclear programme.

Read more: Iran seizes another tanker over fuel smuggling, state media reports

Trump re-imposed sanctions on the Islamic Republic that had been lifted in exchange for Iran agreeing to halt its development of nuclear weapons.

Today the President declined to answer when asked if he would waive sanctions to bring Iran to the negotiating table.

Read more

As it happened: Stocks jump as oil drops; Unilever shares soar on decade-best sales

Unilever owns brands ranging from Ben and Jerry's to Dove

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • Markets & Economics

Categories

  • Markets

Related Topics

  • International

Trending Articles

  • Big Four’s AIM exodus accelerates as mid-tier firms seize mandates

  • EY and London managing partner fined over £1.3m for audit failure

  • Lloyd’s of London allows staff to work from home as heatwave hits the capital

  • FTSE 100 firm agrees £5.7bn takeover in latest private equity swoop

  • Burnham backs plan to pump £1bn pension funds into start-ups

More from City PM

  • As it happened: Stocks rise despite IEA warning of ‘critical’ oil issue

    Markets
    North Sea oil terminal with storage tanks and docking facilities under a clear sky, highlighting energy infrastructure.
  • As it happened: Stocks jump as oil drops; Unilever shares soar on decade-best sales

    Markets
    Unilever owns brands ranging from Ben and Jerry's to Dove
  • UK borrowing costs surge as Trump declares Iran ceasefire over

    Economics
    Breaking news event coverage with diverse group of people engaging in discussion at a business meeting or conference.
  • As it happened: Stocks rise; oil falls after Trump pauses Iran strikes

    Markets
    Donald Trump holding a red TRUMP 2028 hat, wearing a tuxedo with an American flag in the background
  • As it happened: Stocks reverse losses after Trump threatens harder strikes on Iran; Oil at four-week high

    Markets
    Donald Trump has threatened to sue the BBC for $1bn
  • Strait of Hormuz ‘closed’ as Iran and US exchange strikes

    Economics
    Bustling shipping activity in the Strait of Hormuz with tankers and cargo ships navigating Iranian waters.
  • As it happened: Choppy day for FTSE 100 after Iran closes Strait of Hormuz as strikes ramp up

    Markets
    Donald Trump delivering a speech at a podium during a formal event, emphasizing key points to an attentive audience.
  • As it happened: FTSE 100 rises to defy tech gloom; oil creeps up on fresh Iran tensions

    Markets
    Donald Trump with hand on chin, appearing contemplative during a public event, wearing a suit and red tie.
CityPM

Independent European business, markets and political news for decision-makers.

Morning Briefing

Europe

  • Germany
  • France
  • Europe
  • UK & Ireland

Business

  • Markets
  • Banking
  • Technology
  • Energy
  • Property
  • Fintech

Editorial

  • Opinion
  • Editorial Policy
  • Corrections
  • Contact

Company

  • About City PM
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
© 2026 City PM Ltd · Published by CityPM Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
Privacy · Terms · Cookies · Facebook