U.S. sanctions Iran's Persian Gulf Strait Authority

NEW YORK, May 27 (Xinhua) -- The Persian Gulf Strait Authority, an Iranian authority overseeing shipping control in the Strait of Hormuz, has been added to the Specially Designated Nationals List in a fresh sanction move under the U.S. Economic Fury campaign, the U.S. Treasury Department said on Wednesday.

In a press release posted on its website on Wednesday, the department's Office of Foreign Assets Control claimed the strait authority sought to impose illegitimate tolls on commercial traffic and force vessels to follow Iranian direction in return for safe passage.

It also warned that anyone cooperating with the authority may be exposed to sanctions risk.

"The Iranian military's latest attempt to extort global maritime trade is proof that Economic Fury has left the regime desperate for cash," said U.S. Secretary of the Treasury Scott Bessent.

On May 18, Iran launched the Persian Gulf Strait Authority, a new body to manage the Strait of Hormuz. In a statement posted on X on May 20, the authority defined its supervisory jurisdiction over the strait, noting that vessels transiting the area through the Strait of Hormuz are required to coordinate with Iranian authorities and obtain authorization.