The U.S. Treasury Department issued a stern warning Friday to shipping companies worldwide, stating that any payments made to Iran for safe passage through the Strait of Hormuz could result in severe sanctions.
The Treasury’s Office of Foreign Assets Control emphasized that even payments disguised as charitable contributions to organizations like the Iranian Red Crescent Society would not be permitted and could trigger punitive action.
This crucial waterway handles approximately 20% of global seaborne crude oil and liquefied natural gas shipments, making it one of the planet’s most important maritime corridors.
Iran has recently floated the idea of charging transit fees for vessels moving through the Strait as part of broader proposals aimed at resolving conflicts with Israel and the United States.
Treasury officials revealed they are aware of Iranian demands for payments in exchange for guaranteed safe passage through the strategic waterway. Earlier this week, OFAC had already cautioned companies about the risks of paying such fees, but Friday’s clarification specifically addressed attempts to circumvent sanctions through indirect payment methods.
While Treasury declined to provide Reuters with specific information about which countries or companies may have made such indirect payments, reports suggest at least one $2 million payment has been made for vessel passage.
The warning comes as Iran has submitted new negotiation proposals to Pakistani intermediaries, potentially opening doors for progress in resolving the ongoing standoff.
According to OFAC, Iranian payment demands may take various forms, including traditional currency, cryptocurrency, trade offsets, informal exchanges, or contributions presented as charitable donations to the Iranian Red Crescent Society, Bonyad Mostazafan, or Iranian embassy accounts.
“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,” the office stated. “These risks exist regardless of payment method.”
In addition to the shipping warning, OFAC announced new sanctions targeting three Iranian currency exchange operations, which officials say handle billions of dollars in annual transactions, along with their affiliated front companies.
The office also placed sanctions on the Panama-registered NEW FUSION oil tanker. Treasury Secretary Scott Bessent emphasized the administration’s commitment, stating: “We will relentlessly target the regime’s ability to generate, move, and repatriate funds, and pursue anyone enabling Tehran’s attempts to evade sanctions.”
Industry experts have long noted that China, Iran’s primary oil customer, will likely continue purchasing Iranian petroleum unless the U.S. directly sanctions Chinese financial institutions. However, such action could significantly strain relations between Washington and Beijing.
