
A South Korean tank was seized by Iran in the Strait of Hormuz. The Iranian forces say the ship held because it was polluting the Persian gulf with chemicals but only the naive would believe that justification. Iran was flexing its dominance in the area and in doing so, sending a clear signal to both South Korea and more importantly the US.
This development comes amid rising tension between Iran and the outgoing Trump administration.
On Monday, Iran resumed enriching uranium once again. This a significant breach of the 2015 nuclear accord and was done to retaliate against Washington. The US had withdrawn from the agreement in 2019 and reimposed sanctions against Tehran.
In another showcase of its military might, today Iran began a massive military drone exercise.This is the first large-scale drone-only drill that Iran is known to have conducted.
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Iran is also angry about the killing of its top nuclear scientistwhich Tehran blames on Israel, an ally of the US.
So how did South Korea, a small country in Asia get caught up in the middle of Iran-US tensions?
On Monday, a South Korean oil tanker was travelling from Saudi Arabia to the UAE when it was flanked by Iran's revolutionary guards.It was escorted by Iranian forces to the port city of Bandar abbas.
All this occurred in a narrow stretch of sea called the Strait of Hormuz. Just around 21 miles wide, this strip of sea between Oman and Iran is the most sensitive choke point for all global oil supply. All tankers carrying crude oil from ports on the Persian Gulf must pass through this strait.
In 2018, the daily oil flow in this area averaged 21 million barrels per day. This is the equivalent of about 21 per cent of global petroleum consumption.
This is not the first time that Iran has seized ships of other countries. It has a history of seizing ships, especially if they belong to countries which have disputes with Tehran, and South Korea is currently not in Iran's good books.
South Korea is withholding billions of dollars of Iranian oil export revenue. Seoul is following US sanctions against Iran. South Korea demanded the immediate release of its vessel and dispatched its own forces to the area.
This comes just days ahead of a planned visit by South Korea's deputy foreign minister to Tehran.
Analysts say seizing the oil tanker was Iran's bid to force South Korea to come to the table and discuss repatriation of the Iranian money. So far Iran remains defiant.
A governmentspokesperson today said it's the Korean government holding Iranian money hostage."If there is any hostage-taking, it is Korea's government that is holding more than $7 billion, which belongs to us, hostage on baseless grounds," saidIranian government spokesman.
However, Iran's move might have backfired as a South Korean foreign official has said that the deputy foreign minister's visit was now up in the air and the country's focus was now to free the 20 crew members of the ship.