US threatens shipping firms with sanctions if they pay Iran tolls
The US Office of Foreign Assets Control has alerted shipping companies that paying Iranian government entities for transit through the Strait of Hormuz could trigger sanctions
The United States government has issued a formal warning to the international shipping industry, stating that companies could face sanctions if they pay Iran for safe passage through the Strait of Hormuz. This alert, which was released on Friday by the US Office of Foreign Assets Control (OFAC), specifically targets payments made to Iranian government entities in exchange for transit security or tolls within the strategic waterway.[1][2]
Under the guidelines provided by OFAC, United States persons and domestic companies are generally prohibited from engaging in financial transactions with Iranian government entities. The warning further emphasizes that the risk of sanctions is not limited to American entities; non-US persons and foreign shipping firms may also face significant exposure to sanctions if they are found to be making such payments to the Iranian government.[1][2]
The move by the US Office of Foreign Assets Control underscores the ongoing efforts to restrict the Iranian government's revenue streams from maritime activities. By targeting the payments made for safe passage through the Strait of Hormuz, the US aims to enforce existing prohibitions on financial dealings with sanctioned Iranian entities across the global shipping sector.[1][2]
