U.S. Treasury Warns Against Payments for Hormuz Passage

On May 1, OFAC warned that any payment—cash, digital assets, swaps, or charitable donations—to Iran or the IRGC for “safe passage” through the Strait of Hormuz breaches U.S. sanctions. The ban covers U.S. persons and U.S.-controlled entities; non-U.S. shipowners risk secondary sanctions.

U.S. Treasury Warns Hormuz ‘Toll’ Payments to Iran Could Trigger Sanctions

Iran has proposed a fee for vessels transiting Hormuz, linking payment to an end of hostilities with Israel and the United States. The proposal was submitted to Pakistani mediators as part of broader U.S.–Iran negotiations. The strait moves about one-fifth of global crude oil and LNG, making it strategically vital.

The Straits Times

OFAC, Treasury Secretary Scott Bessent, the IRGC, Iranian charities, IMO’s Arsenio Domínguez, and BIMCO.

U.S. Treasury Warns Hormuz ‘Toll’ Payments to Iran Could Trigger Sanctions

The strait carries roughly 20 % of world oil and LNG. Media reports cite at least one $2 million payment for passage; OFAC’s FAQ 1249 states such payments are unauthorized for U.S. persons.

The Straits Times

The alert raises compliance risk, exposing firms to secondary sanctions and possible loss of U.S. financial access. It adds to existing war-risk premiums, navigation threats, and insurance costs. It also touches geopolitics, as sanctioning Chinese banks—Iran’s top oil buyer—could strain U.S.–China ties and reaffirms freedom of navigation.

U.S. Treasury Warns Hormuz ‘Toll’ Payments to Iran Could Trigger Sanctions

OFAC urges verification of any coordination with Iranian authorities and direct inquiry about “safe passage” fees, targeting service providers such as P&I clubs, brokers and port agents. Treasury Secretary Bessent pledged a relentless campaign against the regime’s financing. The IMO’s Domínguez said tolls lack legal basis; BIMCO warned confidence needs clear guarantees.

U.S. Treasury Warns Hormuz ‘Toll’ Payments to Iran Could Trigger Sanctions

Industry groups say ad-hoc tolls destabilize markets, raise insurance costs and erode commercial confidence. BIMCO stresses shipowners need security guarantees, not improvised payments, and warns confidence will not return without cleared lanes. The IMO calls tolls illegal under international law.

U.S. Treasury Warns Hormuz ‘Toll’ Payments to Iran Could Trigger Sanctions

OFAC has not confirmed toll payments, yet media cite a $2 million transaction and note Iran’s proposals remain unverified. The guidance does not validate the existence of a toll regime, leaving firms to assess risk from advisory language.

The Straits Times

• “OFAC is issuing this alert to warn U.S. and non-U.S. persons about the sanctions risks of making these payments to, or soliciting guarantees from, the Iranian regime for safe passage,” — OFAC

The Straits Times

• “These risks exist regardless of payment method.” — OFAC

The Straits Times

• “We will relentlessly target the regime’s ability to generate, move, and repatriate funds, and pursue anyone enabling Tehran’s attempts to evade sanctions,” — Scott Bessent, Treasury Secretary

The Straits Times

• “Service providers should ask counterparties for details on who they coordinated with to transit the Strait of Hormuz and if any safe passage fees were or will be paid to Iran,” — OFAC

U.S. Treasury Expands Hormuz ‘Toll’ Warning, Puts Maritime Industry on Notice

The Treasury may impose secondary sanctions on facilitators, while Pakistan-mediated talks proceed. Shipowners are expected to tighten due-diligence, and industry may push for clearer navigation guidelines.

U.S. Treasury Warns Hormuz ‘Toll’ Payments to Iran Could Trigger Sanctions