The United States has threatened to impose sanctions of shipping companies that pay Iran for safe passage through the Strait of Hormuz, as tensions simmer over the impasse between Washington and Tehran in ending a war that has roiled global markets.
The US Office of Foreign Assets Control (OFAC) warned that American persons and companies were generally banned from paying Iranian government entities, and non-US persons may risk exposure to sanctions if they pay.
“Maritime industry participants involved with vessels calling at Iranian ports face significant sanctions risk under multiple sanctions authorities targeting Iran’s shipping sector and ports,” it said.
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This came after US President Donald Trump said he was not satisfied with the latest Iranian proposal for talks on the Iran war, indicating that the deadlock between both sides is likely to persist.
The US has repeatedly said it will not end the war without a deal that prevents Iran from ever obtaining a nuclear weapon, the primary aim Trump cited when he launched the strikes in February in the midst of nuclear talks. Iran says its nuclear programme is peaceful.
Though the United States and Iran have suspended hostilities since an April 8 ceasefire, the two countries remain at odds over a range of issues, including Iran’s nuclear ambitions and control over the Strait of Hormuz. Iran has severely limited traffic through the strait since the war began, while the US has enforced a naval blockade around Iranian ports to pressure Tehran.
Is Iran Collecting Tolls?
Last month, Iranian Parliament Deputy Speaker Hamidreza Haji Babaei said the country had received its first revenues from tolls imposed on ships transiting the Strait of Hormuz, with the funds credited to the central bank.
OFAC’s alert said payments could involve cash as well as “digital assets, offsets, informal swaps, or other in-kind payments,” including charitable donations and payments at Iranian embassies. OFAC said it “will continue to aggressively target Iran’s main revenue-generating sectors, in particular its petroleum and petrochemical sectors”.
Before the ceasefire, Tehran had said passage through the strait would be limited to what it described as “friendly” countries and had indicated it may levy tolls on vessels transiting the route, which is a crucial shipping channel for oil and other goods, including food, medicines and technological supplies.
(with inputs from agencies)
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