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Macro Finance

US Aims to Revive Civil War-Era Court to Claim Iran Oil as Prize

Bloomberg Markets·August 26, 2026·1 min read

The Justice Department is preparing to activate a long-dormant maritime war court to streamline the military capture of Iranian oil tankers as US prizes, according to three people familiar with the plans. This move aims to expedite seizures of Iranian oil shipments, leveraging a historical legal mechanism to assert US authority over such vessels.

Read at Bloomberg Markets
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