Reporting on consumer products news in the United Kingdom
Provided by AGP
U.S. Says Shipping Firms Paying Iran's Hormuz Tolls Risk Sanctions
(MENAFN) The United States has moved to penalize any shipping company that pays transit fees demanded by Iran to pass through the Strait of Hormuz, escalating a confrontation over one of the world's most critical maritime chokepoints.
The strategic strait has been effectively sealed since late February, when coordinated U.S. and Israeli strikes on Iran triggered a shutdown. Traffic has since been funneled through a single corridor under the authority of Iran's Islamic Revolutionary Guard Corps (IRGC), which has established what amounts to a toll-collection system. Vessels seeking passage are required to obtain clearance codes and submit to Iranian escort.
According to Lloyd's List, at least two ships have settled fees in Chinese yuan, with reported payments ranging between $1 million and $2 million per transit.
On Friday, the U.S. Office of Foreign Assets Control (OFAC) issued a formal industry alert putting maritime operators on notice.
"Maritime industry participants involved with vessels calling at Iranian ports face significant sanctions risk under multiple sanctions authorities targeting Iran's shipping sector and ports."
OFAC further cautioned that non-U.S. entities could face civil or criminal liability if their transactions pass through U.S.-affiliated institutions — including insurers and financial intermediaries.
Tehran has pushed back firmly, asserting sovereign authority over the waterway. Deputy Parliament Speaker Ali Nikzad described the strait as a sovereign domain rather than "an international waterway," framing Iran's control as a natural right.
The human toll of the standoff continues to mount. As of this month, an estimated 2,000 commercial vessels and 20,000 crew members remain stranded across the Persian Gulf and in waters near the strait, with multiple ships reportedly running low on essential supplies.
On Sunday, U.S. President Donald Trump announced a major relief initiative dubbed Project Freedom, designed to escort vessels belonging to countries deemed "neutral and innocent bystanders" through the blocked passage.
U.S. Central Command confirmed it would back the mission to "restore freedom of navigation for commercial shipping." The operation — which Trump characterized as a humanitarian undertaking — will deploy approximately 15,000 military personnel, guided-missile destroyers, and more than 100 aircraft.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
