US Sanctions Iran's Strait Authority Over Revolutionary Guards Links

The United States Treasury announced sanctions against Iran's Persian Gulf Strait Authority on Wednesday, extending financial penalties to any entity paying fees to the maritime authority. Treasury Secretary Scott Bessent stated in a declaration that payments may support Iran's Revolutionary Guards, exposing organizations to potential sanctions risk.

The action targets what the US calls "Iran's latest attempt to extort global maritime trade" in the strategically vital Strait of Hormuz. Bessent claimed the sanctions have already disrupted "tens of billions of dollars' worth of revenue" that Tehran could have used for weapons programs, terrorist proxies, and nuclear ambitions.

International shipping companies and maritime trade operators should review their payment arrangements to avoid secondary sanctions. The Strait of Hormuz is a critical shipping lane through which approximately 20% of global oil trade passes. This action follows recent US airstrikes on Iran and may escalate tensions in the Middle East, potentially affecting global energy prices and shipping routes.

SOURCE: https://dailypost.ng/2026/05/28/strait-of-hormuz-us-announces-sanctions-against-iran/