| “The U.S. military’s Central Command said in an update Tuesday that the ongoing U.S. blockade of Iranian ports and vessels linked with the regime had turned around a total of 108 ships since it was implemented on April 13,” reports CBS News. The blockade—implemented by President Donald Trump a few days after a very loose ceasefire was hammered out, due to the mid-April talks in Pakistan failing to produce an agreement with which he could be happy—has repeatedly been referred to by Iran as a violation of that agreement; the Strait of Hormuz, and whether ships are allowed passage through the major shipping corridor, has been a consistent point of disagreement and tension. (Central Command has clarified that U.S. forces “will not impede freedom of navigation for vessels transiting the Strait of Hormuz to and from non-Iranian ports.”)
The strait is, of course, where about one-fifth of the world’s oil and liquefied natural gas passes through, so the blockades have resulted in soaring prices (and intense unpredictability) globally. Watch also for other weird supply chain disruptions and the knock-on effects they might have. Will disruptions in, say, fertilizer shipping affect crop yields? Reason readers don’t need too much reminding on this front, but, you guys, war is bad on a lot of dimensions.
Key questions remain about what a durable peace deal would look like, including whether Iran would be allowed to maintain a nuclear program in any form. Trump also appears to be using the Abraham Accords—trying to get Qatar and Saudi Arabia to sign on, which would normalize ties with Israel—to get the Iran hawks within his administration to feel like they already have a win under their belt, to allow for more flexibility elsewhere.
Scenes from New York: “The mayor announced a new plan Tuesday to help rescue some of the most distressed rent-stabilized landlords. Eligible apartment owners will be able to charge a one-time rent increase on certain empty units, even if a rent freeze is enacted later this year,” reports The Wall Street Journal. “The percentage increases would be determined on a case-by-case basis but could amount to hundreds of dollars a month in some cases.” He’s a classic communist: Handpicking winners and losers. (“The roughly 300,000 apartments financed through the city’s housing agencies are potentially eligible for the rent increase once they are empty, along with other assistance,” reports the Journal. It’s government entanglement in real estate all the way down.) |