New U.S. Sanctions Target Iran's Emerging Strait of Hormuz Maritime Services Network

The Trump administration on Wednesday expanded its campaign against Iran’s efforts to control commercial shipping through the Strait of Hormuz, sanctioning two organizations that Treasury says were created to provide insurance and maritime services tied to Tehran’s transit regime.

The U.S. Treasury’s Office of Foreign Assets Control (OFAC) designated the Persian Gulf Marine Insurance Company (PGMIC) and the HormuzSafe Marine Services Authority as part of a broader package targeting what Treasury described as the Iranian regime’s “Strait of Hormuz extortion network.”

The move marks the latest step in Washington’s effort to undermine Iran’s attempts to establish control for managing and profiting from commercial vessel traffic