Iran’s newly created body to force shippers to comply with its rules around the Strait of Hormuz has been added to a US Treasury sanctions list.
The Persian Gulf Strait Authority has been placed on the Treasury’s Specially Designated Nationals list, which will generally prohibit US persons from dealing with it.
The Treasury said the creation of the authority was a new attempt by Iran’s Islamic Revolutionary Guard Corps (IRGC) to “monetize its campaign of state-sponsored terror by extorting vessels transiting the Strait of Hormuz,” in a statement on Wednesday.
Iran has been trying to implement a new protocol for transiting the Strait of Hormuz since effectively closing the…