Shipping companies who pay Iran for safe passage through the Strait of Hormuz risk penalties, the US has warned. The US Office of Foreign Assets Control (OFAC) issued a warning on Friday that funding Iranian government entities is usually prohibited for US individuals and businesses, and that non-US individuals may be subject to sanctions if they do so.Participants in the maritime sector who have ships calling at Iranian ports face a serious risk of sanctions from several sanctioning authorities targeting Iran’s ports and shipping industry, according to OFAC.
Since the start of the conflict in February, Iran has drastically reduced traffic through the strait. Additionally, a naval blockade of Iranian ports has been imposed by the US. The US interception of ships entering and departing Iranian ports under the embargo has been referred to by Iran as “piracy.”
The deputy speaker of Iran’s parliament, Hamidreza Haji Bababei, stated last week that the first toll payment had been made through the nation’s central bank. Tehran claims to have received fees from ships to allow them to pass freely through the strait.
There was no additional information about the toll’s amount, how it was collected, or who paid it. This assertion could not be independently verified by the BBC. contributions may include cash as well as “digital assets, offsets, informal swaps, or other in-kind payments,” such as donations to charities and payments made at Iranian embassies, according to OFAC’s advisory.
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