US Threatens Shippers on Paying Iran's Tolls at Strait
Newser • • nation
Key Points:
- The US Treasury Department's Office of Foreign Assets Control (OFAC) has warned commercial shippers that paying Iran for passage through the Strait of Hormuz could lead to sanctions, affecting both American and foreign companies.
- The alert highlights that payments to Iranian government entities, including tolls levied on ships passing through the strait, are prohibited and could result in civil or criminal penalties for non-US companies if they involve US financial institutions.
- Iran has confirmed it is collecting tolls on vessels transiting the Strait of Hormuz, with initial revenues deposited into its central bank, escalating tensions between the US and Iran over control of this critical global oil and gas shipping route.
- The US notice specifies that prohibited payments may include various forms such as cash, digital assets, swaps, in-kind transfers, charitable donations, or transactions through Iranian embassies, broadening the scope of potential sanctions exposure.
