finance
U.S. Treasury Sanctions Iran Strait Authority Over Hormuz Operations
The Treasury Department imposed sanctions on the Persian Gulf Strait Authority, the entity that manages Strait of Hormuz traffic. Officials said the authority participates in an Iranian scheme that violates U.S. sanctions and international law.
May 28, 4:35 AM·1m read1 source
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The Treasury Department has enforced sanctions on the Persian Gulf Strait Authority of Iran, the body that manages operations of the Strait of Hormuz. U.S. sanctions. Any engagement with the authority could be viewed as providing support to Iran's Islamic Revolutionary Guard Corps, the Department warned.
The action follows prior Treasury warnings that companies and vessels risk sanctions for complying with Iranian demands tied to Strait of Hormuz passage. Those demands include payments in cash, digital assets, barter swaps, charitable donations, or sharing sensitive vessel data.
U.S. has imposed a financial stranglehold on the world's leading state sponsor of terrorism through the Economic Fury program.
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