Economics
What’s Next for the Oil Tanker Seized by British Forces
- Vessel may become stuck in a legal dispute in Gibraltar
- Only quick solution would be if country admitted an error
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When British Royal Marines helped seize an oil tanker off the southern tip of Spain on Thursday, they opened up a legal wrangle that could drag on for months.
The Grace 1, a supertanker able to haul 2 million barrels of crude, was arrested in the early hours of July 4 because Gibraltarian authorities said they had grounds to believe it was going to breach European Union sanctions by delivering crude oil to Syria. The cargo came from Iran, which protested against the seizure.