The Treasury Department has enforced sanctions on the Persian Gulf Strait Authority (PGSA) of Iran, the body that manages the operations of the Strait of Hormuz.
The Department emphasized that the Strait Authority is a key player in an Iranian-controlled scheme that flagrantly violates international law and U.S. sanctions.
The Treasury warned that any engagement with this authority could be seen as backing and receiving services from Iran's Islamic Revolutionary Guard Corps (IRGC), thus making them susceptible to sanctions.
The latest action reinforces earlier warnings that companies and vessels could face sanctions for complying with Iranian demands tied to passage through the Strait of Hormuz, including paying "tolls" through cash, digital assets, barter-style swaps, charitable donations, or sharing sensitive vessel data.
Treasury Secretary Scott Bessent commented, "The Iranian military's latest attempt to extort global maritime trade is proof that Economic Fury has left the regime desperate for cash." He added that the U.S., through Economic Fury, has imposed a financial stranglehold on the world's leading state sponsor of terrorism.
