Iran has confirmed that its impounded oil tanker, along with its illegally confiscated oil supply, has been released by Greece.

The ship was released from custody on 26 June. Ali-Akbar Safaei, the CEO of Iran’s Ports and Maritime Organization (PMO), said that on 27 June, the ship began to make its way towards a Greek port to recover its looted oil cargo in a ship-to-ship operation.

Safaei stated that the tanker will not leave for Iran until all the looted oil is loaded onto their ship.

The Iranian ship and its oil cargo were expected to be released after Greece overturned the decision that allowed the oil to be confiscated at the request of the US.

This was made possible by a court ruling annulling the approval of the ship seizure by the Greek government.

In a statement issued by Iran’s PMO on 14 June, Athens ordered the release of the ship and its cargo, despite sustained US efforts to maintain the seizure.

“The Greek government has ordered the return of the cargo to its owner and lifted the seizure order, thanks to the Islamic Republic of Iran’s decisive and prompt actions, the pursuit of the matter by relevant bodies, and support from the Minister of Roads and Urban Development,” the PMO statement said.

The PMO described the US seizure of Iranian cargo as an “act of piracy” that was “in violation of international standards.”

On 27 May, Iran’s Revolutionary Guard Corps (IRGC) seized two Greek-flagged oil tankers in the Persian Gulf in retaliation for the maritime violations of Greece.

The court ruling may indicate the desire of Athens to mend ties with Iran without US involvement.

Despite US sanctions, Iran has increased its international oil trade, and maintained exports of one million barrels per day (bpd) since the start of the Iranian new year.

Revenue from Iranian energy exports increased by 60 percent in the same time period.

According to Iranian President Ebrahim Raisi, the economic roadmap written by Tehran is designed to anticipate growth and success independently of the outcomes of negotiations to revive the 2015 nuclear deal currently taking place in Vienna.