US imposes new Iran sanctions over Strait of Hormuz: Who was targeted
Photo: A shadow fleet tanker (Getty Images)
US imposes new sanctions on Iran
Persian Gulf Marine Insurance Company and HormuzSafe Marine Services Authority require commercial vessels to purchase mandatory marine "insurance" to transit the Strait of Hormuz.
According to the Treasury Department, the insurance covers risks that are largely created by Iran itself. The scheme is intended to generate revenue to finance terrorism and corruption by the regime in Tehran. The United States also added eight more tankers from Iran's "shadow fleet" to its sanctions list.
"The United States will not allow Iran to hold global commerce hostage or use international shipping to finance the IRGC’s terrorism, aggression, and repression," US Treasury Secretary Scott Bessent said.
The United States states that commercial shipping through the Strait of Hormuz must remain free, adding that Iran has no right to impose tariffs or charge fees for safe passage through the waterway.
The Strait of Hormuz dispute
As previously reported, Iran has rejected Oman’s proposal for equal control over the Strait of Hormuz, undermining hopes for renewed negotiations between Tehran and Washington.
Earlier, Oman presented Iran with a plan backed by the Gulf states for navigation through the Strait of Hormuz that included voluntary transit fees for vessels using the waterway.
On July 22, US President Donald Trump warned that the United States would strike Iran's energy and transport infrastructure if Tehran attacked ships transiting the Strait of Hormuz.
