On 28 May, the U.S. Department of the Treasury\u2019s Office of Foreign Assets Control (OFAC) announced that it sanctioned Iran\u2019s \u201cPersian Gulf Strait Authority,\u201d accusing the organization of serving as a front for the Islamic Revolutionary Guard Corps (IRGC) and facilitating what Washington describes as an extortion scheme targeting international maritime traffic.<\/p>\n
According to the Treasury Department, the authority is part of a broader effort by Iran to generate revenue for the IRGC, which the United States designates as a terrorist organization. U.S. officials have warned that companies or individuals cooperating with the authority<\/a> could face sanctions exposure if they are found to be providing material support to the IRGC.<\/p>\n \u201cThe Iranian military\u2019s latest attempt to extort global maritime trade is proof that Economic Fury has left the regime desperate for cash,\u201d Treasury Secretary Scott Bessent said in a statement.<\/p>\n He added that the U.S. campaign has sought to tighten financial pressure on Tehran by targeting revenue streams linked to its weapons development, regional proxy groups and nuclear activities.<\/p>\n The move builds on earlier U.S. guidance warning shipping companies and maritime operators against complying with Iranian demands related to transit through the Strait of Hormuz. <\/a><\/p>\n Treasury officials said such demands could include \u201ctoll\u201d payments made through traditional currency transfers, digital assets, barter arrangements, or other forms of compensation, including so-called charitable donations.<\/p>\n The guidance also cautioned against sharing sensitive vessel information with Iranian authorities.<\/p>\n