‘This is obviously a very, very lucrative business for them’: Somali pirates are back—the Iran war is keeping the US too busy to stop them
Brett Erickson, a managing principal at Obsidian Risk Advisors, says Somali pirates have a lower risk of American retaliation because of resources in the Middle East.
Brett Erickson, a managing principal at Obsidian Risk Advisors, says Somali pirates have a lower risk of American retaliation because of resources in the Middle East.
BELLINGS Intelligence Score: 10
Why it matters
The resurgence of Somali piracy due to US distraction in the Middle East is a notable geopolitical and security development but does not directly impact credit markets, lending, or financial regulation relevant to sophisticated credit professionals.
Sources
Fortune
‘This is obviously a very, very lucrative business for them’: Somali pirates are back—the Iran war is keeping the US too busy to stop them
Brett Erickson, a managing principal at Obsidian Risk Advisors, says Somali pirates have a lower risk of American retaliation because of resources in the Middle East.