Iran seized the three British ships that were trolling IRAQI waters, and took the 8 Brit sailors hostage, in an attempt to swap the sailors for 40 suicide bombing recruits held by Ukrainian forces that are part of the US coalition in Iraq. Read this report, courtesy of the indispensible Middle East Media Research Institute (MEMRI).
MEMRI is a non-profit group that translates speeches and articles appearing in Arab and Middle Eastern media into English. It has been denounced by the Palestinian Authority and numerous Arab states as a Zionist tool, but the accuracy of its translations has never been challenged. You can go here to learn more about MEMRI, and even donate.