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US Revives Civil War-Era Court to Seize Iranian Oil

Bloomberg Markets •
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The Justice Department is preparing to activate a long-dormant maritime war court to streamline military capture of Iranian oil tankers as US prizes, according to three people familiar with the plans.

Reviving prize courts, which is expected to face legal challenges, is intended to strengthen the blockade of Iran and offset the cost of the conflict.

The move comes as tensions with Iran continue to escalate, with the USS Rafael Peralta involved in blockade operations near an Iranian-flagged ship in April.

August 26, 2026 at 7:07 PM UTC.