Trump Revives Old Prize Law to Claim Iranian Oil Tankers

The U.S. Department of Justice is reviving “prize law,” a maritime legal framework unused regularly since the Spanish-American War, to speed up efforts to claim Iranian oil tankers seized during the U.S.-Iran conflict. Aaron Reitz, the U.S. attorney for the Southern District of Texas, said his office is working to bring back the centuries-old tool. Prize law governs how seized maritime property is condemned, returned, or disposed of, and could offer a faster path than civil asset forfeiture, which can drag through lengthy proceedings. Even so, courts would still need to confirm U.S. met the required standard.