Shippers Paying Hormuz Tolls To Iran Risk Sanctions – US Treasury

The US Treasury Department has warned that shippers paying tolls to Iran for passage through the Strait of Hormuz risk sanctions. OFAC is issuing an alert to warn US and non-US persons about the sanctions risks of making these payments to, or soliciting guarantees from, the Iranian regime for safe passage. The Strait of Hormuz is a crucial waterway for global oil shipments, and tensions are rising due to Iran’s military actions.