US imposes sanctions on new Iranian entity controlling Strait of Hormuz

The United States has imposed new sanctions on a recently established Iranian authority responsible for managing the Strait of Hormuz. The U.S. Treasury Department announced the sanctions against the "Strait of Persian Gulf Authority," an entity created by Tehran to levy transit fees on vessels navigating the strategically vital waterway.

U.S. Treasury Secretary Scott Bessent stated that Iran's latest attempt to "blackmail global commercial shipping" demonstrates the regime's desperate need for cash, linking it to "Operation Epic Thunder." This operation, launched on February 28, is described as an economic offensive against the Islamic Republic.

The sanctions also target those who pay transit fees to the Iranian authority, as such payments will be considered support for the Islamic Revolutionary Guard Corps. The U.S. warned that individuals and entities providing such support would face sanctions.

This move by the U.S. underscores ongoing tensions surrounding maritime security and international trade in the Persian Gulf region, particularly concerning Iran's control over the Strait of Hormuz, a critical chokepoint for global oil supplies.

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the most recent attempt by the Iranian military to blackmail global commercial shipping demonstrates that Operation Economic Wrath has brought the regime to desperate need of cash.