Beirut: The US government has formally warned global shipping firms that they risk severe sanctions for providing any form of compensation to Iran to facilitate passage through the Strait of Hormuz.
The US Office of Foreign Assets Control (OFAC) intensified the ongoing maritime confrontation with Iran on Friday, issuing a formal alert designed to weaken Tehran’s grip on the Strait of Hormuz. This waterway is a critical global energy chokepoint, handling roughly one-fifth of the world’s daily oil and natural gas supplies, AP reported.
Since the war between the US-Israel coalition and Iran began on February 28, the Iranian military has restricted access to the Strait of Hormuz by threatening commercial ships. To bypass the US naval blockade enforced since April 13, Iran started charging vessels fees for safe passage through its coastal waters.
The US government’s latest sanctions warning specifically targets Tehran’s “tollbooth” revenue model, which officials view as a tactical manoeuvre to evade international economic pressure. To block this, the Treasury Department’s Office of Foreign Assets Control (OFAC) has implemented a comprehensive ban on all forms of payment intended to secure passage through the Strait of Hormuz.
In direct response to Iran’s decision to shutter the Strait of Hormuz, the US military initiated a comprehensive naval blockade of Iranian ports on April 13. This blockade serves as a decisive economic instrument, preventing oil tankers from departing and effectively starving Tehran of the hard currency it requires to sustain its struggling economy.
US Central Command recently reported that 48 commercial vessels have been forced to abandon their intended paths or reverse course since the naval blockade of Iranian ports commenced around mid-April.
