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The United States has issued a warning to shipping companies, cautioning them about potential sanctions if they pay Iran for safe passage through the Strait of Hormuz.
This warning, released by the US Office of Foreign Assets Control on Friday, intensifies the ongoing tension between the US and Iran regarding control over this critical waterway.
The Strait of Hormuz is a vital channel, with approximately 20% of the world’s oil and natural gas shipments passing through it during times of peace.
The situation escalated when Iran effectively disrupted normal passage through the strait by attacking and threatening vessels, following the onset of hostilities by the US and Israel on February 28.
In response, Iran began offering certain ships an alternative route along its coastline, sometimes imposing charges for this redirected safe passage.
That “tollbooth” effort is the focus of the US sanctions warning.
The payment demands could include transfers not only in cash but also “digital assets, offsets, informal swaps, or other in-kind payments,” including charitable donations and payments at Iranian embassies, OFAC said.
“OFAC is issuing this alert to warn US and non-US persons about the sanctions risks of making these payments to, or soliciting guarantees from, the Iranian regime for safe passage. These risks exist regardless of payment method,” it said.
The US responded to Iran’s closure of the strait with a naval blockade of its own on April 13, preventing any Iranian tankers from leaving and depriving Iran of oil revenue it needs to shore up its ailing economy.
The US Central Command said 45 commercial ships have been told to turn around since the blockade began.
The warning came as President Trump swiftly rejected Iran’s latest proposal to end the war between the countries.
“They want to make a deal, I’m not satisfied with it, so we’ll see what happens,” Trump said Friday at the White House.
He didn’t elaborate on what he saw as its shortcomings but expressed frustration with the Iranian leadership.
“It’s a very disjointed leadership,” Trump said. “They all want to make a deal, but they’re all messed up.”
Iran’s state-run IRNA news agency reported Iran handed over its plan to mediators in Pakistan on Thursday night.
The shaky three-week ceasefire between the US and Iran appears to be holding, though both countries have traded accusations of violations.
The standoff is increasingly putting pressure on the global economy, driving up prices and leading to shortages of fuel and other products tied to the oil industry.
Negotiations continued by phone after Trump called off his envoys’ trip to Pakistan last week, the president said.
Trump this week floated a new plan to reopen the critical passageway used by America’s Gulf allies to export their oil and gas.
Iranian Foreign Minister Abbas Araghchi has briefed many of his regional counterparts on the country’s initiatives to end the war, according to his social media.
He also held talks Friday with European Union foreign policy chief Kaja Kallas, who is in contact with the EU’s Gulf partners.