Thread has been going on for a while on NANOG, and the more it goes, the more participants make it sound like an evil plot, in which the US would voluntarily cut undersea cables to isolate Iran from the Internet. (brrrrrr...) Still, no noticeable breakdown in telecommunications towards Iran have been noticed, if those cuts were meant to isolate Iran from the Internet, they obviously failed.
Those theories are apparently (need to be conditionnal on that...) also being pushed by Flag, the international carrier and also subsidiary of the Indian mother company Reliance, through an article in arabianbusiness.com and Egypt claims that, contrary to what had been previously officially stated, ship anchor didn't severe the 1st cable.

  • Flag now displays an update bulletin, available on their homepage, and here
  • Flag Europe-Asia and SeaMeWe-4 cable maps here.

Now most blogs and info portal mention that it is now common knowledge that the US have recently been working on Special Warfare ops submarines, such as the SSN-23, aka USS Jimmy Carter, apparently designed for special tasks such as, for instance, fiber cable cut. Those theories can be read here and there.
As usual, I would stick to the excellent Renesys' blog articles as they're free of any such conspiracy theory and just display the effect this 'crisis' has had on general internet traffic:

Now if you ask me, the only thing this disruption prove is that some serious efforts/investments need be thought about in order to turn point-to-point cables to rings, this would at least spared us a big off-topic thread on Nanog :)