Iranian oil tanker seized by UK will be released on Thursday – The Sun

Anil Panchal FXStreet

Citing sources close to the Gibraltar Chief Minister Fabian Picardo, the Sun releases a news report saying that the Royal Marines will release Iranian oil tanker on Thursday in hopes of ending a month-long stand-off.

The report further mentions that the 15,000-tonne ship was seized by a team of Royal Marines as it passed through the British territory’s waters on July 4 for trying to bust European sanctions and take oil to Syria.

“There is no reason to keep Grace 1 in Gibraltar a moment longer if we no longer believe it is in breach of sanctions against the Syrian regime,” the report quotes the sources.

FX implication

While receding fears of the UK-Iran tension will have a negative impact on Crude Oil and safe havens, no immediate market reaction was witnessed to the news.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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