The United States has warned shipping companies that paying Iran for safe passage through the Strait of Hormuz could expose them to sanctions. In an alert issued on Friday by the Office of Foreign Assets Control (OFAC), the U.S. stated that payments—whether in cash, digital assets, offsets, or other in-kind forms—could trigger sanctions. The warning comes amid escalating tensions between the U.S. and Iran over control of the strait, a critical choke point for global oil and gas trade.
Part 1: Immediate Action & Core Facts
The U.S. has explicitly stated that payments to Iran for safe passage through the Strait of Hormuz, including those made indirectly through digital assets or charitable donations, could result in sanctions. This warning follows Iran’s imposition of tolls on ships navigating alternate routes near its shoreline after restricting traffic through the strait since February. The U.S. has also enforced a naval blockade on Iranian ports, preventing oil exports and citing economic pressure as a key objective.
Part 2: Deeper Dive & Context
Sanctions and Payment Methods
OFAC’s alert specifies that payments could include cash, digital assets, offsets, informal swaps, or other in-kind transactions, such as charitable donations or payments at Iranian embassies. The agency emphasized that these risks apply to both U.S. and non-U.S. persons, with non-U.S. entities facing potential civil and criminal liability if their actions cause U.S. entities to violate sanctions.
Iran’s Tollbooth System
Iran has claimed to have collected tolls from ships navigating the strait, with Deputy Speaker Hamidreza Haji Bababei stating that the first revenue had been deposited with Iran’s Central Bank. However, the BBC could not independently verify this claim. The tolls are part of Iran’s broader strategy to control maritime traffic in response to the U.S. and Israel’s war, which began on February 28.
U.S. Naval Blockade
The U.S. imposed a naval blockade on April 13, preventing Iranian tankers from leaving and depriving Iran of critical oil revenue. The U.S. Central Command reported that 45 commercial ships had been turned away since the blockade began. President Donald Trump has rejected Iran’s latest proposal to end the war, stating that the offer was unsatisfactory.
Economic Impact on Iran
The U.S. blockade has severely impacted Iran’s economy, with the Iranian rial losing 15% of its value in two days and over two million Iranians reportedly losing their jobs. Iran has criticized the U.S. blockade as "piracy," while the U.S. has framed it as a necessary measure to counter Iran’s restrictions on the strait.
Global Trade Implications
The Strait of Hormuz typically handles about a fifth of the world’s oil and natural gas trade. Iran’s closure of the strait to normal traffic and the U.S. blockade have disrupted global shipping routes, raising concerns about energy security and economic stability in the region.