Local media report that the operation was completed yesterday with the contribution of a towage vessel from the neighbouring island of Kefalonia.
It is believed that Greek shipowner Martinos and the Emir of Qatar paid for the operation after a request from the local municipality.
The Palau-flagged Amaranthus was found during a routine patrol from the local coast guard.
Greek authorities discovered hundreds of cartons of cigarettes - believed to be smuggled - aboard the vessel.
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