Secretary of Treasury Scott Bessent announced sanctions late Wednesday against the Persian Gulf Strait Authority, Iran's newly created mechanism to oversee Strat of Hormuz trade transit. File Photo by Shawn Thew/UPI | License Photo
May 28 (UPI) -- The U.S. Treasury announced late Wednesday that it has sanctioned an Iranian entity, newly created to oversee and manage the Strait of Hormuz, as the Trump administration seeks to force Tehran to relinquish control over the vital energy trade route.
The strait has been an issue of contention between the United States and Iran, which are locked in negotiations to end the war.
Iran restricted navigation of the strait after the United States and Israel attacked the country in late February, igniting the war. Washington responded by imposing a military blockade of Iran's ports, cutting it off from maritime trade.
Since imposing the restrictions, Iran has been adamant about maintaining control of the route, through which about one-fifth of the world's energy trade flows. The Trump administration has repeatedly threatened that there will be free navigation of the strait again, one way or another.
