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The U.S. may soon receive $600 million worth of Iranian oil that was seized earlier in the war, putting an ancient body of maritime law back in focus

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The U.S. may soon receive $600 million worth of Iranian oil that was seized earlier in the war, putting an ancient body of maritime law back in focus

Three oil tankers linked to Iran have been gradually making their way toward the U.S. after being seized by naval forces when President Donald Trump first imposed a blockade on the regime.

The Tifani and Majestic X are now off the coast of Brazil after they were boarded in the Indian Ocean in April, according to Bloomberg. A third ship, known as the Lenore as well as the Davina, just cleared the Cape of Good Hope at the southern tip of Africa and is headed west into the Atlantic after being interdicted in the Indian Ocean in June.

All three tankers are very large crude carriers, which can each hold 2 million barrels of crude. Brent futures are currently trading at about $106 per barrel.

“Nearly six million barrels (valued at nearly $600M) of seized Iranian crude oil are quietly crossing the Atlantic Ocean towards the United States of America,”........

© Fortune