DUBAI, United Arab Emirates
The United States is cautioning shipping companies that they may face sanctions if they choose to pay Iran for safe passage through the Strait of Hormuz.
This warning from the US Office of Foreign Assets Control, issued on Friday, intensifies the already heightened tensions between the US and Iran regarding control over the strategic strait.
Typically, about 20% of the global oil and natural gas trade flows through this crucial waterway at the entrance of the Persian Gulf.
Following a series of attacks on vessels and threats to their safety after the US and Israel entered into conflict on February 28, Iran effectively restricted navigation in the strait. They started to offer alternative routes along the coast, sometimes charging fees for what they termed safe passage.
This “tollbooth” system is the primary concern of the US sanctions.
OFAC noted that payments could manifest in various forms, not just cash but also “digital assets, offsets, informal swaps, and other in-kind payments,” which might include charitable contributions or payments made at Iranian embassies.
They emphasized, “OFAC is issuing this alert to make you aware of the sanctions risks associated with making such payments to the Iranian regime or attempting to secure guarantees for safe travel from them. These risks hold true regardless of the payment method.”
In response to Iran’s blockade, the US implemented its own naval blockade starting April 13, halting Iranian tankers from departing ports and cutting off vital oil revenues for the struggling Iranian economy.
The U.S. Central Command indicated that since this blockade commenced, 45 commercial vessels have been directed to turn back.
This warning coincided with President Donald Trump’s outright rejection of Iran’s recent proposal to cease hostilities. He remarked, “They want a deal, but I’m not satisfied with it, so we’ll see what happens.” Although he didn’t specify what he found troubling about the offer, his dissatisfaction with Iran’s leadership was clear.
Trump commented, “This is a very disjointed leadership. They all want to make a deal, but everything is a mess.”
On Thursday night, Iran provided plans to mediators from Pakistan, according to a report from the official IRNA news agency.
A shaky three-week ceasefire between the US and Iran seems to be holding, despite mutual accusations of breaches. This ongoing conflict is exerting mounting pressure on the global economy, pushing prices higher and leading to shortages in fuel and other oil-related products.
Even after Trump voided a special envoy’s visit to Pakistan last week, negotiations have continued via phone, with Trump recently announcing plans to reopen key corridors crucial for the US’s Gulf allies in exporting oil and gas.
Iranian Foreign Minister Abbas Araghchi has been updating numerous foreign ministers in the region regarding efforts to end the conflict. Additionally, he spoke with Kaja Kalas, the European Union’s foreign policy chief, who is in touch with Gulf state representatives.
On Saturday, Iran announced that it executed two men found guilty of espionage for Israel.
The Iranian judiciary’s news outlet, Miza Online, identified them as Yagoub Karimpour and Nasser Bekhrzadeh, whose death sentences were upheld by the nation’s highest court.
According to the news agency, Karimpour was accused of sending “classified information” to the Israeli intelligence service, Mossad, while Bekrzadeh was alleged to have leaked information about Natanz and details regarding government and religious leaders. This city in central Iran is home to a nuclear facility that was previously targeted by Israel and the US.
The recent weeks have seen Iran executing several individuals linked to espionage and terrorism charges.
Hu Kong, China’s ambassador to the United Nations, stated on Friday that maintaining the ceasefire is the “most urgent task.” He emphasized the need for both parties to engage in honest negotiations to establish frameworks for reopening the Strait of Hormuz.
Foreign Minister Wang Yi is reportedly in constant communication with all involved parties, and Hu mentioned that China is backing Pakistan’s mediation efforts.
Hu further underscored that the source of significant distress for Iran and its neighbors, as well as the growing instability in the global economy—especially in developing nations—stems from “the illegal war by the US and Israel.”
