The Iraqi Oil Tanker Company moved two million barrels of that country's crude oil through the Strait of Hormuz with a very large oil tanker.

The Iraqi Oil Tanker Company moved two million barrels of that country's crude oil through the Strait of Hormuz with a very large oil tanker.

The CEO of Iraq Tankers announced in a statement that this is the first operation of this kind for this company in recent decades.

According to Reuters, this announcement means that the company will transport crude oil through this strait and not deliver it traditionally at the port of Basra.

Ali Qais Abdul Jabbar, the general manager of this company, stated in statements that this action could allow the state-owned Iraqi oil marketing company to take advantage of better sales and pricing opportunities.

He added that the Iraq Tanker Company is also trying to develop its fleet by purchasing and owning specialized crude oil tankers and strengthening its ability to compete with regional shipping companies. Iraq previously received Iran's approval for Iraqi oil tankers to pass through the Strait of Hormuz; Straits that Iran almost blocked during the tensions with America.

📸Los Angeles Times via Getty Images archive photo