politics
May 5, 2026
US threatens sanctions on shipping companies over payments to Iran for Hormuz passage
The US Office of Foreign Assets Control has warned shipping companies they could face sanctions for paying Iran for passage through the Strait of Hormuz
TL;DR
- The US has threatened sanctions on shipping companies paying Iran tolls for passage through the Strait of Hormuz.
- The strait is effectively closed, operating under a de facto toll system controlled by the IRGC.
- Iran asserts its sovereign right to control the waterway.
- At least two ships have paid passage fees in yuan.
- The US Office of Foreign Assets Control (OFAC) warned of significant sanctions risk.
- An estimated 2,000 ships and 20,000 seafarers are stranded in the Persian Gulf and around the Strait of Hormuz.
- The US has launched 'Project Freedom' to assist neutral and innocent vessels passing through the strait.
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