Context
The US just turned Iran shipping pressure into a boarding action.
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The US boarded a sanctioned tanker carrying Iranian oil in the Indian Ocean, according to BBC on Apr. 23, after maritime restrictions tied to Iranian ports began on Apr. 13. Trump then added talk of shooting boats laying mines in the Strait of Hormuz, which is how a sanctions story becomes an insurance story in about five minutes.
Smart Take
The US just turned Iran shipping pressure into a boarding action.
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The smart take: The tanker matters less than the precedent. Once Washington shows it will put hands on cargo, every shipping company, insurer, and navy in the region has to price in a wider enforcement campaign.
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