Tanker off UAE sought by US over Iran sanctions ‘hijacked’

Hormuz Island lies on the northern edge of the Strait of Hormuz. (Reuters)
Short Url
Updated 16 July 2020
Follow

Tanker off UAE sought by US over Iran sanctions ‘hijacked’

  • The circumstances of the hijack are still unclear and the boat has been tracked to Iranian waters

DUBAI: An oil tanker sought by the US over allegedly circumventing sanctions on Iran was hijacked on July 5 off the coast of the UAE, a seafarers organization said Wednesday.

Satellite photos showed the vessel in Iranian waters on Tuesday and two of its sailors remained in the Iranian capital.

It wasn’t immediately clear what happened aboard the Dominica-flagged MT Gulf Sky, though its reported hijacking comes after months of tensions between Iran and the US

David Hammond, the CEO of the United Kingdom-based group Human Rights at Sea, said he took a witness statement from the captain of the MT Gulf Sky, confirming the ship had been hijacked.

Hammond said that 26 of the Indian sailors on board had made it back to India, while two remained in Tehran, without elaborating.

“We are delighted to hear that the crew are safe and well, which has been our fundamental concern from the outset,” Hammond told The Associated Press.

Hammond said that he had no other details about the vessel.

TankerTrackers.com, a website tracking the oil trade at sea, said it saw the vessel in satellite photos on Tuesday in Iranian waters off Hormuz Island. 

Hormuz Island, near the port city of Bandar Abbas, is some 190 kilometers (120 miles) north of Khorfakkan, a city on the eastern coast of the United Arab Emirates where the vessel had been for months.

The Emirati government, the US Embassy in Abu Dhabi and the US Navy’s Bahrain-based 5th Fleet did not respond to requests for comment. Iranian state media did not immediately report on the vessel and Iran’s mission to the United Nations did not immediately respond to a request for comment.

In May, the US Justice Department filed criminal charges against two Iranians, accusing them of trying to launder some $12 million to purchase the tanker, at that time named the MT Nautica, through a series of front companies. 

The vessel then took on Iranian oil from Kharg Island to sell abroad, the US government said.

Court documents allege the scheme involved the Quds Force of Iran’s paramilitary Revolutionary Guard, which is its elite expeditionary unit, as well as Iran’s national oil and tanker companies. The two men charged, one of whom also has an Iraqi passport, remain at large.

“Because a US bank froze the funds related to the sale of the vessel, the seller never received payment,” the Justice Department said. “As a result, the seller instituted a civil action in the UAE to recover the vessel.”

That civil action was believed to be still pending, raising questions of how the tanker sailed away from the Emirates after being seized by authorities there.

Data from the MT Gulf Sky’s Automatic Identification System tracker shows it had been turned off around 4:30 a.m. on July 5, according to ship-tracking website MarineTraffic.com. Ships are supposed to keep their AIS trackers on, but Iranian vessels routinely turn theirs off to mask their movements.

Meanwhile, the 28 Indian sailors on board the vessel found themselves stuck on board without pay for months, according to the International Labor Organization. It filed a report saying the vessel and its sailors had been abandoned by its owners since March off Khorfakkan. The ILO did not respond to a request for comment.

As tensions between Iran and the US heated up last year, tankers plying the waters of the Mideast became targets, particularly near the crucial Strait of Hormuz, the Arabian Gulf’s narrow mouth through which 20 percent of all oil passes. Suspected limpet mine attacks the US blamed on Iran targeted several tankers. Iran denied being involved, though it did seize several tankers.


Cashless societies becoming worldwide trend

Updated 08 December 2025
Follow

Cashless societies becoming worldwide trend

RABAT: Imagine carrying cash but being unable to use it. The problem is not with the money, the product, or even the customer — it is the store, confronting shoppers at the checkout with a sign declaring: “Card or digital payment only.”

According to Al-Eqtisadiah, this scenario is no longer a scene from a movie; it is increasingly common worldwide. Many societies are moving toward cashless systems, replacing paper and coin money, cheques, and promissory notes with digital wallets, bank cards, and smart payment apps.

Building cashless societies

Traditional money, whether coins or notes, is rapidly becoming a relic in some countries — particularly those that developed digital infrastructures and financial systems early to support cashless transactions. Payments are now made electronically through credit and debit cards, digital wallets, and other contactless methods.

According to a report by Zimpler, some societies have reduced cash transactions to just 5 percent of all payments. Almost everything, from taxi rides to a cup of coffee, and even donations at local churches, is paid digitally. In China’s Shandong province, even beggars carry containers with QR codes for digital donations.

Sweden leads the cashless movement, with 99 percent of transactions conducted digitally. The law allows businesses to refuse cash outright, limiting cash payments to just 1 percent of total transactions.

Even street vendors no longer accept coins or banknotes. This success stems from Sweden’s early adoption of digital infrastructure, including the launch and widespread promotion of the Swish app in 2012, which reshaped public perception of traditional money.

A global decline in cash

The shift away from cash is a worldwide trend, according to Visual Capitalist. Countries at the forefront include Finland, China, and South Korea, as well as Denmark, the UK, Australia, and the Netherlands.

In the Arab world, the UAE, Bahrain, Qatar, and Saudi Arabia are leading the way, though progress varies depending on each nation’s digital infrastructure.

Digital payments: benefits and risks

The move toward digital payments is no longer a projection of cashless advocates; it is a reality, confirmed by the British printing firm De La Rue.

Research firm Edison Group notes that the company now faces an uncertain future as digital adoption accelerates, after previously producing 36 percent of the world’s currency.

The appeal of digital payments lies in the advantages they offer users. Digital transactions eliminate theft risks, prompting widespread adoption. For example, a late-night robbery in south London led a restaurant owner to stop accepting cash altogether.

Electronic money provides speed and convenience while protecting users from counterfeit notes, loss, damage, and other risks that threaten traditional cash. Governments also benefit, reducing printing costs, limiting visible tax evasion, and making money laundering easier to trace.

The figurative sentence, “Cash has become like a dinosaur, but it will remain,” is often cited by experts and financial consultants who question the notion of the “death of cash,” seeing it as a slogan promoted by major corporations to convince people that digital money is the currency of the present and future.