The Trump administration is bringing back a centuries-old legal tradition that would allow it to more easily seize Iranian oil tankers and sell off their assets. Aaron Reitz, who is the U.S. Attorney in the Houston-based Southern District of Texas, confirmed to Fortune the revival of prize law, or a set of rules allowing for
WASHINGTON — President Donald Trump arrives at an awkward moment for his presidency on Friday as the U.S.-Israel war against Iran reaches the six-month mark, a notable milestone for a conflict that the Republican leader repeatedly assured Americans would be a “little excursion” lasting a matter of weeks. The war isn’t over, though Trump claims
China has vowed to protect its interests after the US announced plans to widen economic sanctions against Iran and its trading partners, which include Beijing. Foreign ministry spokesman Lin Jian said China was firmly opposed to what it called “illegal unilateral sanctions” and would take “all necessary measures” to safeguard its rights. This came after
Facing an increasingly aggressive Iran and a slumping bond market, the Trump administration is betting that Treasury Secretary Scott Bessent can use the financial weapons in the government’s arsenal to achieve victory on both fronts. The idea is to kill two birds with one stone: getting Iran to fully reopen the Strait of Hormuz would
The US treasury secretary has threated Iran with “the single greatest financial offensive ever”, claiming the US-Israel war with Iran was “entering its endgame”. Scott Bessent said the US would sever all economic ties with the country in “an economic D-Day” and that any nation partnering with Iran financially would also be isolated. Bessent’s threat
One of the hottest debates in the energy industry right now is how much oil is actually coming out of the Persian Gulf, and the answer could determine how long the Iran war lasts. Iran insists the Strait of Hormuz is closed and that it has control of the narrow waterway, which saw 20 million