The tanker was seized by British marines and the Gibraltar police earlier this month.
British Prime Minister Theresa Might thanked Gibraltar's Chief Minister for upholding European Union sanctions in opposition to Syria by detaining an oil tanker, her workplace stated on Wednesday, including its unbiased authorized course of must be revered.
Iran has vowed to respond to what it calls Britain's "piracy" over the seizure of the tanker.
On the same day, a British warship prevented three Iranian navy vessels from obstructing the course of a British tanker exiting the Persian gulf.
Gibraltar's Chief Minister Fabian Picardo said Thursday he had a "constructive and positive" meeting with Iranian officials in London aimed at defusing tensions around an oil tanker carrying Iranian oil being held in the British territory's waters.
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The state overnment had also sought $200 million from Asian Infrastructure Investment Bank which has not taken any decision yet. Apart from seeking funds from Centre we will apply elsewhere for loans, " he said.
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On Wednesday, the chief minister met with senior Iranian officials in London and held talks aimed at defusing tensions between the United Kingdom and Iran both in the Mediterranean and the Persian Gulf.
A court in Gibraltar has extended the detention of an Iranian oil tanker for 30 days, AFP reported, citing Gibraltar's attorney general.
Moreover, the United Kingdom dispatched a second warship to the Persian Gulf to support United Kingdom forces in the region and to ensure the safety of British commercial ships.
Gibraltar's supreme court has granted a 30-day extension to allow authorities there to continue to detain the Iranian oil tanker Grace 1 until August 15.
It was believed to be the first U.S. military engagement with Iran following a series of increasingly serious incidents.