News for hackers. Stuff that matters.

A comment on Oil plunges below zero for first time with May contract ending. Parent comment

Re:Oil plunges below zero for first time with May contract e... by fmajid on Monday April 20, 2020 @10:56AM (#22924341)
Yes. He thought he’d be able to live his exile in luxury, but what he thought of as his assets (really belonging to the Iranian people he looted, of course) were frozen by Carter.
[ Parent | on HN ]
Re:Oil plunges below zero for first time with May contract e... by aspenmayer on Monday April 20, 2020 @12:02PM (#22925106)
Not just Carter, the Supreme Court too. After Congress made a law to specifically make the seizure legal, the bank challenged the constitutionality of changing laws to be interpreted against the bank only when applied to that bank’s seized Iranian linked account. The Court sided with the government 7-2.

https://en.wikipedia.org/wiki/Bank_Markazi_v._Peterson

[ Parent | on HN ]