US Slams Iran with Sanctions over Strait of Hormuz Extortion Scheme

The US has imposed new sanctions on entities linked to Iran's Revolutionary Guards for extorting ships in the Strait of Hormuz. The move comes as tensions between the two countries escalate, with President Donald Trump warning that the US would strike Iran 'hard'.

The sanctions target the Persian Gulf Marine Insurance Company and the HormuzSafe Marine Services Authority, which are accused of forcing commercial vessels to purchase insurance to transit the Strait. According to Washington, these entities manufacture risk and then charge ships for coverage against dangers created by the regime itself.

The US has also sanctioned eight companies operating ships that allegedly transported Iranian crude oil and petrochemicals to China and the United Arab Emirates. These ships are part of Iran's 'shadow fleet', which the regime relies on to evade sanctions, according to the State Department.