The U.S. Department of the Treasury’s Office of Foreign Assets Control has designated Iran’s so-called Persian Gulf Strait Authority under Executive Order 13224, as amended, for supporting the Islamic Revolutionary Guard Corps. Treasury said the entity runs an Iranian-controlled scheme that demands tolls and vessel information from ships transiting the Strait of Hormuz, and warned that parties cooperating with the authority may face U.S. sanctions exposure. According to Treasury, the authority works with the IRGC and the IRGC Navy to direct vessels along an Iranian-designated route near Iran’s coast while charging fees for passage, with the proceeds funneled to the IRGC. The action follows recent U.S. guidance warning of sanctions risks tied to Iranian demands for passage payments, including fiat, digital asset, offset, swap and in-kind payments, as well as the provision of sensitive vessel information. As a result of the designation, the authority’s property and interests in property in the United States or under the control of U.S. persons are blocked, U.S. persons are generally prohibited from dealing with it absent authorization, and foreign financial institutions that knowingly facilitate significant transactions for the designated person may face correspondent or payable-through account restrictions.
U.S. Department of the Treasury2026-05-28
U.S. Department of the Treasury sanctions Persian Gulf Strait Authority over IRGC toll scheme in the Strait of Hormuz
The U.S. Treasury’s Office of Foreign Assets Control has designated Iran’s so‑called Persian Gulf Strait Authority under Executive Order 13224 for supporting the Islamic Revolutionary Guard Corps by extracting passage fees and vessel information from ships transiting the Strait of Hormuz and channeling proceeds to the IRGC. Treasury warned that parties cooperating with the authority may face U.S. sanctions exposure, and that all of its property in the U.S. or under U.S. person control is blocked.