Iran's Revolutionary Guard says seized oil tanker was smuggling oil
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Iran said on Thursday it had seized a foreign tanker smuggling fuel in the Gulf. The Guards said the impounded ship was smuggling one million litres of fuel in the area of Larak Island in the Gulf and had 12 foreign crew. Iran, which has some of the world's cheapest fuel prices due to heavy state subsidies and the fall of its currency, has been fighting rampant fuel smuggling by land to neighbouring countries and by sea to Gulf Arab states.