The Office of Foreign Assets Control (OFAC) under the U.S. Department of the Treasury announced on the 27th (local time) that it would add the Iranian Persian Gulf Strait Authority (PGSA), as well as all individuals and entities cooperating with this agency, to the Specially Designated Nationals and Blocked Persons (SDN) list.
The Persian Gulf Strait Authority is an organization recently established by Iran under the pretext of managing transit through the Strait of Hormuz. It is reportedly imposing transit fees of up to 2 million dollars per vessel in exchange for passage approval.
The Strait of Hormuz as seen from Musandam, Oman. Photo by Reuters and Yonhap News Agency
Being designated by OFAC as a special sanctions target results in the freezing of assets within the United States and prohibits financial transactions. On May 11 and 19, OFAC had already added to its sanctions list individuals and companies that facilitated the export of Iranian crude oil to China, as well as companies associated with Iran’s shadow finance sector. OFAC stated, “Anyone cooperating with the Persian Gulf Strait Authority may be deemed as either supporting or receiving services from the Islamic Revolutionary Guard Corps (IRGC),” and added, “This could be considered as aiding the extortion activities of the IRGC, which may expose them to sanctions.”
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While peace negotiations between the United States and Iran had entered the final stages, tensions are once again escalating. According to CNN and other sources, a U.S. official said that on this day, the U.S. military struck Iranian military facilities near the Strait of Hormuz that posed a threat to U.S. forces and commercial shipping, and shot down four attack drones. In response, the Revolutionary Guard announced that it had attacked a U.S. Air Force base in retaliation for the U.S. airstrikes.
This content was produced with the assistance of AI translation services.
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