Bessent announces sanctions on Iranian strait authority to block toll payments The U.S. Treasury has imposed sanctions on Iran’s Persian Gulf Strait Authority, which aims to control the Strait of Hormuz and collect tolls. Treasury Secretary Scott Bessent stated these sanctions are part of Operation Economic Fury to strangle Iran’s economy and prevent it from funding weapons programs and terrorist proxies. The U.S. is also sanctioning Iranian airlines, cutting off their access to services and ticket sales.

• U.S. Treasury Secretary Scott Bessent announced sanctions on Tehran’s nautical authority, the Persian Gulf Strait Authority (PGSA).
• The PGSA seeks to control the Strait of Hormuz and impose tolls on vessels.
• These sanctions are part of Operation Economic Fury, aimed at crippling Iran’s economy.
• The sanctions prohibit entities from paying tolls to the PGSA, threatening financial exclusion.
• The U.S. is also sanctioning Iranian airlines, restricting their operations.
• Bessent warned Oman and other nations against facilitating toll payments in the Strait of Hormuz.
• The economic crisis in Iran is described as severe, exacerbated by U.S. sanctions.