US Warning: Payments to Iran for Strait of Hormuz Transit Could Lead to Sanctions

The United States Department of the Treasury has notified maritime carriers that payments made to Iran for passage through the Strait of Hormuz may become a basis for sanctions.

The Treasury Department's Office of Foreign Assets Control (OFAC) has issued a special alert directed at representatives of the maritime industry. According to the statement, the payment of 'tariffs' required by the Iranian regime in exchange for ensuring safe navigation through the Strait of Hormuz carries substantial risk and could result in the imposition of sanctions.

Iran may demand such payments in various forms, including fiat currency, digital assets, as well as informal swaps, settlements, or bartering methods. Charitable donations made anonymously to foundations such as ‘Bonyad Mostazafan’, the Iranian Red Crescent Society, or to bank accounts of the country’s embassies could also be construed as such payments.

The agency emphasized in a post on its microblog that the Treasury Department is prepared to take immediate action against any parties that support the Iranian military through the payment of 'tariffs' or other means. Maritime service providers have been urged to conduct enhanced screenings of transshipment activities occurring in the Strait of Hormuz.