Foreign Relations

U.S. Sanctions 8 Tankers in Iran's Hormuz Extortion Network

Published

Courtroom-sketch editorial illustration of oil tankers and cargo vessels spread across the Gulf of Oman with a white wake crossing the foreground

The U.S. Treasury sanctioned two Iranian firms it said run an IRGC-backed maritime insurance scheme that forces commercial vessels to buy coverage to cross the Strait of Hormuz. The action also blocked eight tankers and eight associated companies tied to shipments of Iranian crude oil and petroleum products, bringing the total to 10 designated entities. Treasury said the policies cover risks largely created by Iran itself and accept digital-asset payments to evade sanctions. Secretary Scott Bessent said Washington would not allow Tehran to hold global commerce hostage or use shipping to finance IRGC operations.

Sources

Primary sources:12

Related stories

  1. Trump Vows Hard U.S. Strikes After Iran's Surprise Missile Attack
  2. U.S. Rules Out Hormuz Transit Fees in Any Iran Deal
  3. U.S. Says All Iranian Missiles at Jordan Base Were Intercepted
  4. Zelenskyy Says Ukraine Has Better Drones Than Iran, Seeks Interceptors
  5. Iranian Threat Indicators Prompt Warnings to Israeli Ministers

Something went wrong

We couldn't complete that action. Check your connection and try again.