U.S. Could Reap Unexpected Profits from Sanctions Against Iran, Forbes Says

The sanctions imposed against Iran could bring unexpected profits to the United States. This is possible through a law regarding prize courts, which has not been utilized since World War II. However, this opportunity may not be exclusive to the United States, as noted by Forbes.

The law concerning prize courts encompasses norms of armed conflict and maritime law. It applies to the commercial vessels of hostile or neutral parties that have been captured. Following the capture of a vessel, it can be transferred to a port under the jurisdiction of the conflicting party. There, an inspection and examination are conducted by the prize court, which must determine the legality of the capture. If the court confirms that the action was legal, then the vessel and its cargo can be declared as a prize. In this case, the right of ownership is officially transferred to the country that carried out the capture.