By John Lee.
A Canadian court has reportedly ordered the seizure of a cargo of crude oil from the Kurdistan Region of Iraq (KRI).
The Iraqi Oil Ministry requested the seizure of the 721,915-barrel cargo on the “Neverland” oil tanker claiming that it has been unlawfully misappropriated by the Kurdistan Regional Government (KRG). The move is part of the long-running battle between Baghdad and Erbil over who has the right to sell crude oil from the semi-autonomous region.
According to Reuters, the Ministry has also filed a claim against commodity trading house Vitol S.A. and subsidiaries including Mansel Ltd, the charterer of the ship, and affiliate Finaval SpA di Navigazione, the owner of the ship, for $32.5 million.
(Sources: Reuters, Rudaw)