On May 27 2026, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) added the Persian Gulf Strait Authority to its sanctions list. The authority, operated by Iran’s Islamic Revolutionary Guard Corps, is alleged to extort vessels passing through the Strait of Hormuz by demanding “toll” payments in fiat currency, digital assets, or other in‑kind contributions. OFAC said cooperation with the agency exposes parties to sanctions risk under Executive Order 13224 and the Treasury’s Economic Fury program. The designation blocks all property of the authority in the United States and requires reporting of related transactions. Violations may result in civil or criminal penalties, and foreign financial institutions may face secondary sanctions if they facilitate transactions for the blocked entity.
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