US Sanctions Over Iranian Vessel Blackmail
The U.S. Department of the Treasury announced new sanctions on Iranian entities linked to the Revolutionary Guards, accusing them of extorting ships in the Strait of Hormuz by imposing mandatory insurance premiums for passage through the strait, with the aim of generating revenue for Iran amid its deteriorating economy. The sanctions target companies and networks affiliated with the Revolutionary Guards that transport oil and petrochemical products to countries such as China and the United Arab Emirates. These are considered part of the "Iranian Shadow Fleet" that circumvent international sanctions. This move follows threats and attacks by Iran against American and regional forces, in the context of escalating tensions between Washington and Tehran over freedom of navigation in the strait.
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