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US Treasury Sanctions Iran’s Strait Authority, Threatens Cooperators

5/28/2026

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Summary

Story summary

The U.S. Treasury Department sanctioned the Persian Gulf Strait Authority on May 27.
U.S. Treasury Secretary Scott Bessent said the Iranian military’s latest move is an attempt to extort global maritime trade.
Tehran created the authority to manage requests for ships to pass the Strait of Hormuz.
The United States warned that anyone cooperating with the authority could face sanctions for supporting Iran’s Islamic Revolutionary Guard Corps.

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Story summary

The U.S. Treasury Department sanctioned the Persian Gulf Strait Authority on May 27.
U.S. Treasury Secretary Scott Bessent said the Iranian military’s latest move is an attempt to extort global maritime trade.
Tehran created the authority to manage requests for ships to pass the Strait of Hormuz.
The United States warned that anyone cooperating with the authority could face sanctions for supporting Iran’s Islamic Revolutionary Guard Corps.