United States Sanctions Iran’s New Hormuz Control Agency

United States Sanctions Iran’s New Hormuz Control Agency The United States has imposed sanctions on the newly formed Persian Gulf Strait Authority (PGSA) in Iran. The Treasury Department stated that the PGSA, part of the IRGC, is used to extort vessels transiting the Strait of Hormuz and fund state-sponsored terror. These sanctions freeze U.S. assets and prohibit business dealings with PGSA, with penalties for violators.

• The U.S. has sanctioned Iran’s new body, the Persian Gulf Strait Authority (PGSA).
• PGSA is accused of controlling and profiting from transit through the Strait of Hormuz.
• The Treasury Department claims PGSA is used by the IRGC to extort vessels and fund terrorism.
• Sanctions include freezing U.S. assets and banning business with PGSA.
• Violators face penalties, including secondary sanctions on foreign financial institutions.