US threatens sanctions over payments to Iran for Hormuz passage
The US has threatened to sanction shipping companies that pay Iran tolls to transit the Strait of Hormuz.
The strategic waterway has been effectively closed following US and Israeli strikes on Iran that started in late February, with traffic restricted to a single IRGC-controlled corridor under a de facto ‘toll booth’ system. Vessels transiting the corridor reportedly require clearance codes and Iranian escort.
According to Lloyd’s List, at least two ships have paid for passage in yuan, with fees reportedly ranging from $1 million to $2 million.
On Friday, the US Office of Foreign Assets Control (OFAC) issued an alert warning of consequences for those that pay the fees.
“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,” the OFAC said.
The agency added that non-US entities could incur civil or criminal liability if transactions involve US-linked institutions, including insurers and financial companies.
Iran has said it has the “natural right” to control the strait. Deputy Parliament Speaker Ali Nikzad stated that it is a sovereign domain rather than “an international waterway.”
As of May, an estimated 2,000 ships and 20,000 seafarers remain stranded in the Persian Gulf and around the Strait of Hormuz, with many facing supply shortages.
On Sunday, US President Donald Trump announced a new initiative called Project Freedom, aimed at assisting vessels from countries that are “neutral and innocent bystanders” to pass through the strait.
US Central Command said it would support the operation to “restore freedom of navigation for commercial shipping.” The initiative, described by Trump as a humanitarian gesture, will involve around 15,000 personnel, guided-missile destroyers, and more than 100 aircraft.
