US Sanctions Iranian Strait Authority Over Hormuz Fees

US Treasury imposed sanctions Wednesday against Iran's Persian Gulf Strait Authority, which collects fees for vessels passing through strategic Strait of Hormuz. Sanctions extend to anyone paying these fees as they "may be providing support to and receiving services from" Iran's Revolutionary Guards.

Strait of Hormuz handles 20% of global oil and gas shipments. This escalates US-Iran tensions despite April 8 ceasefire, potentially disrupting global energy markets and increasing oil prices worldwide. US Secretary Bessent claims the US has disrupted "tens of billions" in Iranian revenue.

Iran calls the fees "navigational services," not tolls. Iran's foreign ministry insists Tehran "will continue to manage traffic" through the vital waterway. The conflict began Feb 28 after US-Israel attacked Iran, with recent US strikes on Iranian targets despite diplomatic efforts.

With 20% of global energy supplies transiting this waterway, how will this affect your business or personal budget if oil prices spike again?

SOURCE: https://www.channelstv.com/2026/05/28/us-announces-sanctions-against-iran-over-strait-of-hormuz/