The U.S. Department of Justice has seized a shipment of Iranian crude in a Russian tanker in Greek waters and hired a vessel to bring it to the U.S.

Greek officials said the Russian-flagged Lana was stopped at the Greek island of Karystos in April, and a court ruling in Athens last week allowed the cargo to be seized.

"The seizure came at the request of the Americans because the cargo came from a sanctioned country and moved on a sanctioned ship," a Greek official said. "The oil is being moved to another tanker which will sail to the U.S."

Source: Costas Paris - Morningstar