The US + Iran are engaging in tit-for-tat tanker seizing

The US and Iran play Battleship with oil tankers: US authorities in recent days seized a tanker carrying Iranian crude on its way to China, prompting Tehran to capture a US-bound vessel carrying Kuwaiti crude, the Financial Times reports. Washington’s move is the latest in its efforts to enforce its sanctions against the Iranian oil trade over its nuclear program. The tug of war is no novelty: Iran — which is known for seizing tankers in retaliation against similar moves by Western countries — last year confiscatedtwo Greek tankers in the Gulf after the US tried to capture a cargo of Iranian oil near Greece.

Another country begins to ditch the greenback: Argentina has become the latest country to jettison the USD in its trade with China, announcing Wednesday that the two countries will now use the CNY for bilateral trade. (Argentina Economy Ministry).