Iran's Islamic Revolutionary Guards Corps (IRGC) have intercepted a Togo-flagged, U.A.E.-managed tanker carrying 1,500 tons of marine gas oil, British security firm Ambrey said on July 22. The vessel was intercepted 113 kilometers southwest of Iran's port of Bushehr en route to the U.A.E. from Iraq, Ambrey said. The owner lost contact with the tanker as it was arrested, but Ambrey said the incident was likely a counter-smuggling operation by the IRGC. Iran has some of the world's cheapest fuel prices due to heavy subsidies and the plunge in the value of its currency, making smuggling for resale on world markets very profitable.
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