The US administration has announced imposed fresh sanctions on Iran, targeting the country’s newly formed agency overseeing shipping through the Strait of Hormuz, as Washington continued its economic pressure campaign amid the ongoing war.
The move came hours on Wednesday (local time) after US forces carried out strikes on an Iranian military facility following the downing of Iranian attack drones.The latest sanctions target Iran’s Persian Gulf Strait Authority and any individual or entity working with it.
The agency, created earlier this month, has been regulating transit through the Strait of Hormuz and charging tolls that can go up to $2 million per vessel.The Strait of Hormuz is one of the world’s most important shipping routes, with around a fifth of global oil and natural gas supplies passing through it.“The Iranian military’s latest attempt to extort global maritime trade is proof that Economic Fury has left the regime desperate for cash,” US treasury secretary Scott Bessent said in a statement.Iran’s Revolutionary Guard defended the move, saying ships must use the corridor designated by the force while passing through the waterway.
It also warned that vessels moving outside the approved route could face attacks and other risks.These sanctions come as the latest attempt by Trump administration to increase pressure on Iran while talks continue over a possible agreement to end the war and reopen the Strait of Hormuz.The....
