US threatens sanctions on shipping firms over Iran payments in Strait of Hormuz

US threatens sanctions on shipping firms over Iran payments in Strait of Hormuz

Photo: Getty Images

The United States has warned shipping companies that they risk sanctions if they make payments to Iran in exchange for safe passage through the Strait of Hormuz, according to the Associated Press.

The warning, issued on Friday, May 1, by the US Treasury’s Office of Foreign Assets Control (OFAC), adds further pressure to the ongoing confrontation between Washington and Tehran over control of the strategic waterway.

According to the report, Iran has effectively restricted access to the key shipping route following the outbreak of conflict with the United States and Israel in late February. Tehran has since offered certain vessels escorted or “safe passage” routes closer to its coastline, in some cases requiring payment for the service.

The US warning specifically targets this practice, describing it as a form of “toll collection.” Officials said such payments could involve not only cash transfers but also digital assets, informal swaps, or other in-kind transactions.

OFAC stated that the advisory was intended to alert US persons and international actors to sanctions risks associated with such payments, regardless of the method used.

Earlier measures by the United States reportedly included maritime actions aimed at restricting Iranian oil exports and limiting Tehran’s revenue, with US Central Command claiming dozens of commercial vessels had been intercepted since the escalation began.

Despite continued tensions and mutual accusations of ceasefire violations, a fragile and uncertain pause in direct hostilities remains in place. However, negotiations between the two sides appear stalled, with major disagreements over core issues.

Analysts warn the conflict risks becoming prolonged, with potential wider consequences for global energy markets, including rising prices and disruptions in fuel supply chains.

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