Definitely, yes. But I ask myself, how able the AI is to react on it. I had a OB treaty with Arabia and was able to plunder over 10 trade units. He is sending now 3 of his trade units to me (I have only 3 coastal cities and he's isolated on an island with CS). My ships and a explorer are sitting on all his possible trade routes. He still send trade routes out and try to use internals, but after the expire of my OB with him and a diplomatic penalty of - 400, I had to pay only 3 gold for his OB and plunder every used trade route not targeting me.