New U.S. Sanctions Target Iran's Emerging Strait of Hormuz Maritime Services Network
Treasury said the companies broker IRGC-approved coverage and accept digital-asset payments as part of a scheme to move Iranian crude.
- On Wednesday, the United States imposed fresh sanctions on entities connected to Iran's Islamic Revolutionary Guard Corps, accusing them of operating an "extortion scheme" involving commercial vessels in the Strait of Hormuz.
- These sanctions advance Washington's "maximum pressure" drive aimed at crippling Iran's illicit petroleum trade, as officials claim the regime uses the waterway to monetize the strait and prop up its failing economy.
- Washington specifically targeted the Persian Gulf Marine Insurance Company and HormuzSafe Marine Services Authority, asserting these entities "manufacture risk" by threatening vessel seizures to force commercial ships to purchase mandatory coverage.
- The Treasury Department's punitive action hits 10 corporate entities and eight oil tankers, continuing a crackdown on Iran's "shadow fleet" that has blacklisted over 100 vessels since the beginning of 2026.
- Treasury Secretary Scott Bessent emphasized the regime is "desperate for cash" amid triple-digit inflation, following President Donald Trump's vow to hit Iran "hard" after missile strikes targeted military facilities in Jordan.
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Beyond the Gulf: Iran's ambitious strategy for a new regional order
To protect its leverage over the Strait of Hormuz, Tehran is actively thwarting alternative energy corridors and deepening its foothold in Lebanon and Iraq by mobilizing its militia proxy network
The U.S. imposed sanctions on Iranian firms over the Strait of Hormuz and tightened pressure on Tehran in the midst of a new upturn in the conflict.
The US has announced sanctions against two companies that enable Iran to generate revenue through the Strait of Hormuz, as well as eight ships and eight related companies for their role in transporting Iranian crude oil and petrochemical products.
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LatestlyUS targets Iran with fresh sanctions over Strait of Hormuz 'extortion scheme'
The US has sanctioned 10 entities and eight tankers linked to Iran's Revolutionary Guards over a Strait of Hormuz "extortion scheme". Washington accused Tehran of forcing commercial ships to buy compulsory insurance, using the proceeds and illegal oil sales to prop up its struggling economy.
The US did not "gift" Iran the closure of the key strait. On July 29, two Iranian companies and eight tankers were placed under economic restrictions, RBC-Ukraine reported, citing a statement from the US Treasury Department. The US imposed sanctions against Iran. Persian Gulf Marine Insurance Company and HormuzSafe Marine Services Authority require commercial vessels to purchase mandatory marine insurance for transit through the Strait of Hormuz…
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