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The Iranian Revolutionary Guard detaining the Stena Impero in July. Photo: Hasan Shirvani/Mizan News Agency/AFP/Getty Images

Iran's government announced Monday that it would release the British-flagged oil tanker Stena Impero, which it seized in July, reports the New York Times.

Why it matters: The decision ends a 2-month standoff between Tehran and London over detained vessels and maritime law, but Iran still faces increased tensions with its Persian Gulf neighbors and the U.S. and its allies — including the U.K.

Context: The U.K. seized an Iranian oil tanker off the coast on Gibraltar early in July, and Iran reacted by confiscating the Stena Impero and accusing it of violating maritime regulations in the Strait of Hormuz.

The big picture: Tensions still remain between the U.K. and Iran. British Prime Minister Boris Johnson blamed Iran Monday for this month's attack on Saudi Arabian oil facilities and did not rule out military intervention against Iran.

  • Johnson also said he would meet Iranian President Hassan Rouhani at this week's United Nations General Assembly in New York.

Go deeper: Iran to Western powers: "A limited aggression will not remain limited"

Go deeper

Ben Geman, author of Generate
42 mins ago - Energy & Environment

Democrats' clean power outlook is very muddy

Illustration: Annelise Capossela/Axios

Here are two big questions as a key Democratic proposal to slash emissions from power generation flounders: how much its demise would sap climate protections, and what might replace it.

Catch up fast: New financial carrots and sticks for utilities to deploy zero-carbon power — the Clean Electricity Performance Program (CEPP) — look unlikely to stay in Democrats' big social spending and climate bill.

Colin Powell dies from COVID complications at 84

Photo: Paul Morigi/Getty Images for Capital Concerts

Colin Powell, the first Black U.S. secretary of state, died of complications from COVID-19, his family announced Monday. He was 84.

Driving the news: The Powell family said in a statement that he was fully vaccinated. "We want to thank the medical staff at Walter Reed National Medical Center for their caring treatment."

3 hours ago - Health

This arthritis drug cost $198 in 2008. Now it's more than $10,000

Illustration: Aïda Amer/Axios

In 2008, a box of 30 anti-inflammatory rectal suppositories that treats arthritis, called Indocin, had a price tag of $198. As of Oct. 1, the price of that same box was 52 times higher, totaling $10,350.

Why it matters: As federal lawmakers continue to waver on drug price reforms, Indocin is another example of how nothing prevents drug companies from hiking prices at will and selling them within a broken supply chain.

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