On Wednesday, the U.S. Treasury sanctioned the Persian Gulf Strait Authority, a new Iranian agency created to extort tolls from commercial ships.
Treasury Secretary Scott Bessent stated the move targets Tehran's desperately needed cash flow as the Iranian economy continues its rapid collapse. Beyond the shipping agency, the U.S. is moving to shut down Iranian airlines' access to international landing spots, refueling, and ticket sales. Washington also issued a stern warning to Oman, threatening aggressive sanctions if the neighboring nation helps Iran facilitate this new tolling system.
Global maritime companies must now decide between paying Iranian fees or risking total exclusion from the U.S. financial system.
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