No payments to Iran or face sanctions: US warns shippers

• US Treasury warned shipping industry: paying tolls to Iran for passage through Hormuz will trigger punitive sanctions.
• The move follows the designation of 35 entities and individuals involved in "shadow banking" network that launders billions for IRGC.

In a major expansion of its "Economic Fury" campaign, the US Department of the Treasury on Friday warned global shipping companies that making "toll" payments to the Iranian government for passage through the Strait of Hormuz is a violation of US sanctions.

The advisory, issued by the Office of Foreign Assets Control (OFAC), targets Tehran’s recent efforts to monetize the strategic waterway.

The Treasury clarified that any form of payment -cash, crypto, or even donations- is strictly prohibited.

Targeting the "Shadow Banking" Lifeline

The warning comes just days after the Treasury designated 35 individuals and entities across multiple jurisdictions, including China, UAE, and Hong Kong.

These targets are accused of managing Iran’s "shadow banking" architecture, a sprawling network of shell companies and exchange houses that allow the Iranian military to launder tens of billions of dollars from illicit oil sales.

"Iran’s shadow banking system serves as a critical financial lifeline for its armed forces," said Treasury Secretary Scott Bessent. "We will relentlessly target the regime’s ability to generate and move funds, and pursue anyone enabling Tehran’s attempts to evade sanctions."

Key Details of the New Restrictions:

Strait of Hormuz Tolls: US and non-US persons are prohibited from paying the Iranian regime or the Islamic Revolutionary Guard Corps (IRGC) for "safe passage."
Charitable Fronts: The Treasury specifically warned that payments routed through the Iranian Red Crescent are being used as a cover for illicit fees and are subject to sanctions.
Liability: Foreign entities that facilitate these payments risk "civil and criminal enforcement liability," including being cut off from the US financial system.

A Dilemma for Global Shipping

With the US currently maintaining a naval counter-blockade against Iran-linked vessels, Tehran has reportedly demanded "protection fees" from merchant ships to avoid seizure.

The US Treasury’s latest move places shippers in a difficult position: pay the "toll" and face a total US financial blacklist, or refuse and risk Iranian interference.

"Economic Fury" Continues

Since February 2025, the US has sanctioned over 1,000 Iran-related targets as part of the Trump administration's "Maximum Pressure".

By targeting the shadow banks and the shipping tolls simultaneously, Washington aims to completely disconnect the IRGC from the international financial system and force the regime back to the negotiating table.