The US Treasury Department has sanctioned Iran’s Persian Gulf Strait Authority, accusing it of acting as an extortion arm of the Revolutionary Guard (IRGC) by forcing commercial vessels to pay tolls for passage through the Strait of Hormuz.
The department said on Wednesday in a statement that the body forces vessels to pay “illegitimate tolls” and submit “sensitive” information in exchange for safe passage through the strait, with funds funnelled directly to the IRGC.
“The Iranian military’s latest attempt to extort global maritime trade is proof that (Operation) Economic Fury has left the regime desperate for cash,” said Treasury Secretary Scott Bessent.
Treasury warned that any person or entity cooperating with the authority — including through toll payments made via fiat currency, digital assets, offsets, informal swaps, or other in-kind payments — may be exposed to US sanctions risk.
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