The United States has imposed fresh sanctions on Iran’s Persian Gulf Strait Authority, accusing the newly established agency of attempting to profit from international maritime traffic passing through the strategic Strait of Hormuz.
Announcing the sanctions on Wednesday, the US Treasury Department alleged that Tehran was using the authority to collect charges from vessels navigating the vital waterway.
“The Iranian military’s latest attempt to extort global maritime trade is proof that Economic Fury has left the regime desperate for cash,” Treasury Secretary Scott Bessent said in a statement.
Washington also warned shipping companies and other parties against paying the imposed fees, saying anyone doing so “may be providing support to and receiving services from” Iran’s Revolutionary Guards and could therefore “be exposed to sanctions risk.”
“Treasury has deprived the Iranian regime of revenue for their weapons programs, terrorist proxies, and nuclear ambitions,” Bessent added.
According to the Treasury Department, US measures have already disrupted “tens of billions of dollars’ worth of revenue from being accessible” to the Iranian government.
Tensions around the Strait of Hormuz have continued to rise in recent months. On May 20, the Persian Gulf Strait Authority shared a map on X outlining what it described as its “regulatory jurisdiction,” marking specific zones on both sides of the waterway where Iran said authorization would now be required for passage.
Although US and Iranian forces have observed a ceasefire since April 8 as diplomatic efforts continue toward a possible settlement, restrictions on shipping activities through the Gulf route have reportedly intensified. The US has also carried out strikes on Iranian targets in recent days.
Iran, however, defended its actions. Foreign ministry spokesman Esmaeil Baqaei said on Monday that Tehran would continue overseeing movement through the Strait of Hormuz, which handles roughly 20 percent of global oil and natural gas shipments.
Baqaei maintained that Iran was charging vessels for “navigational services” and not imposing transit tolls.
The current conflict began after the United States and Israel launched attacks on Iran on February 28, prompting retaliatory missile and drone strikes by Tehran across the region.