Definitely a big nerf to Republics; adding a Trade Post limit is going to severely cut their income. Also, requiring a Trade Post before you can do a city war is an extra incentive for the player to embargo.
Also of note in the patch:
Holy War CB has been nerfed to duchies that are adjacent or 1-2 sea regions away.
Truce breaking now has a huge prestige and diplomacy penalty (half your prestige + 200, and -5 diplomacy for 10 years).
I have a feeling Iberia and the East are going to become a lot more static with these changes. It might even help the pagans in the Baltic survive, too, but that's doubtful until the pagan DLC buffs.
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