There may be no country better situated geographically than Iran when it comes to bringing an oil-dependent world to its knees.

The ship was struck near an Emirati port, in the first such attack in five days. The United Arab Emirates also said it was intercepting Iranian drones and missiles.

While some European countries said they were discussing ways to help reopen the Strait of Hormuz, several rejected President Trump’s calls to send warships.

Although President Trump said seizing tankers would be a financial boon, the cost of maintaining just one aging ship has already reached $47 million.