The United States on Wednesday imposed new sanctions on an Iranian agency created to control vessel movements through the Strait of Hormuz.
The sanctions target Iran’s Persian Gulf Strait Authority, a body set up to manage requests for passage through the Strait of Hormuz and charge transit fees to vessels using the waterway.
Tensions remain high in the Gulf following the war involving Iran, the United States and Israel.
The Strait of Hormuz normally handles about a fifth of global oil and natural gas shipments, and restrictions in the area have increased energy prices and disrupted global shipping operations.
The US Treasury Department added the Persian Gulf Strait Authority to its Specially Designated Nationals (SDN) sanctions list through the Office of Foreign Assets Control.
US Treasury Secretary Scott Bessent said Iran was trying to pressure global maritime trade by tightening control over the strait.
“The Iranian military’s latest attempt to extort global maritime trade is proof that Economic Fury
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