Specifically, the Panamanian Authority highlighted that Grace 1 was de-listed after receiving an alert indicating that the ship had participated in or was linked to terrorism financing.

According to Reuters, the British Royal captured the vessel on June 27, after being accused of bringing oil to Syria, thus breaching EU sanctions.

Although the tanker is under the Panamanian flag, Iran claimed ownership and then objected to the seizure of its ship.

Iran stated that the seizure of the vessel is an illegal 'economic war' against the country.