US Warns Shipping Firms of Sanctions Over Payments to Iran for Hormuz Passage
The United States has cautioned shipping companies against making payments to Iran for safe passage through the Strait of Hormuz, citing potential sanctions.
The United States has issued a warning to global shipping companies, stating they could face sanctions if they pay Iran for safe passage through the Strait of Hormuz. The U.S. Office of Foreign Assets Control (OFAC) emphasized that such payments, regardless of method—including digital assets, offsets, informal swaps, or in-kind contributions—pose sanctions risks.
This advisory follows Iran's actions to control the strait by threatening or attacking vessels after the U.S. and Israel initiated military operations on February 28. Subsequently, Iran offered alternate routes near its shores for a fee, prompting the U.S. to implement a naval blockade on April 13 to halt Iranian tanker traffic and impact its economy.
In related developments, President Donald Trump rejected Iran's latest peace proposal, expressing dissatisfaction and citing internal divisions within Iran's leadership. Despite a fragile three-week ceasefire, both nations have accused each other of violations, escalating tensions and affecting the global economy.
Additionally, Iran executed two men convicted of spying for Israel, amid a broader crackdown on espionage. China has urged both sides to maintain the ceasefire and resume negotiations, attributing regional instability and global economic disruption to the ongoing conflict.
