The story

Pirates holding a ship full of tanks and ammunition off the coast of Somalia are likely to be paid millions of dollars in ransom within days, senior U.S. military officials said.

The pirates have been holding the Ukrainian-operated, Belize-flagged MV Faina and its 20-person crew in the Gulf of Aden since September 25.

Military officials said the cash payment will be brought on the ship, directly to the pirates. Such a procedure is common because of the lack of electronic banking in Somalia. Read full article »

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