This happened in 1979 too. Here's what followed
Four stories collided. Trump extended the Iran ceasefire hours before the April 22 expiry, but kept the naval blockade running — Brent closed at $98.48. Warsh's confirmation hearing turned fiery, with him calling for "regime change" at the Fed. BlackRock gated $26 billion at HPS while Blue Owl suspended redemptions at OBDC II entirely. And buried under all of it, the OCC and FDIC finalized the debanking rule on April 7.
