US Treasury Sanctions Iran Authorities Overseeing Strait of Hormuz
The United States Treasury has announced new sanctions against Iran’s Persian Gulf Strait Authority, the body created by Tehran to oversee and charge tolls on ships transiting the Strait of Hormuz. The Persian Gulf Strait Authority, launched on May 18, is responsible for approving vessel passage and collecting fees reportedly as high as $2 million per ship, forming part of Iran’s bid to consolidate control over the strategic waterway. The Strait of Hormuz handles a significant share of global oil and gas shipments, and Iran has been enforcing a multi-tiered clearance system for vessels using checkpoints on islands in the Gulf. Under the new measures, the Persian Gulf Strait Authority has been added to the US Specially Designated Nationals (SDN) list, meaning any assets it holds under US jurisdiction are frozen and US persons are barred from dealings with it. […]
