Same $6B — frozen in Korean banks in 2018, shuffled to Qatar for a prisoner swap in 2023, re-frozen after Oct 7, now allegedly unfreezing again for Hormuz passage. Three jurisdictions, four freeze/unfreeze cycles in eight years while 230 tankers sit idle in the Gulf and oil whipsaws $30/bbl on each headline. Sovereign actors are watching these funds get weaponized in real time — and quietly looking for settlement rails that can't be toggled off by a single phone call.

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