Three ships under scanner as Coast Guard investigates high-seas Oil racket

Parwinder SandhuNew Delhi, Feb. 11 -- The Indian Coast Guard (ICG) on Wednesday said it has launched a formal investigation into three vessels which were intercepted off the coast of Mumbai last week, suspected of being part of an organised international oil smuggling network, with the ships currently anchored off the Mumbai coast.

Officials said the operation uncovered an elaborate system used to move large volumes of low-cost oil and oil-based cargo from conflict-affected regions through covert transfers through sea route.

Maritime intelligence assessments indicate that the vessels under scrutiny also feature on the US sanctions lists linked to Iran-related petroleum trade. Public records from the US Treasury's Office of Foreign Assets ...