US Threatens Shippers on Paying Iran's Tolls at Strait

The US has warned commercial shippers that paying Iran to move through the Strait of Hormuz could expose them to sanctions. In a notice issued Friday, the Treasury Department's Office of Foreign Assets Control said that American individuals and companies are generally barred from making payments to Iranian government entities, and that foreign firms could also face sanctions if they do so. The alert specifically cites vessels calling at Iranian ports, the BBC reports.

Iran says that it has been levying tolls on ships seeking passage through the strait and that the first such revenue has been deposited with its central bank. The alert adds pressure in the standoff between the US and Iran over control of the strait at the mouth of the Persian Gulf, where about a fifth of the world's trade in oil and natural gas typically passes, the AP points out. Payments could take many forms, the US notice says, including cash, digital assets, swaps, in-kind transfers, charitable donations, or payments at Iranian embassies. Non-US companies risk civil or criminal liability if their transactions cause US banks, insurers, or other US parties to breach sanctions, OFAC said.