US threatens sanctions on shipping firms paying toll to Iran to cross Hormuz | The Strait also faces a US naval blockade | Inshorts

The US is threatening sanctions on shipping companies paying tolls to Iran to transit the Strait of Hormuz, which is currently effectively blocked by Iran. The Office of Foreign Assets Control warns that both US and non-US entities are at risk of sanctions regardless of payment method. This escalation of tensions could further destabilize the region.