The notification released on Friday by the US Office of Foreign Assets Control adds further pressure in the existing standoff between the US and Iran over control of the Strait of Hormuz.
Typically, about 20% of the world’s trade in oil and natural gas flows through the strait at the entrance to the Persian Gulf during peacetime.
Iran has effectively shut down the strait to normal traffic by attacking and threatening vessels following the US and Israel’s military actions that began on February 28. It subsequently offered some ships safe passage by rerouting them closer to its shoreline, sometimes charging fees for this service.
This “tollbooth” strategy is central to the US sanctions warning.
The payment requests could encompass transfers in not only cash but also “digital assets, offsets, informal swaps, or other in-kind payments,” which may include charitable donations and payments made at Iranian embassies, according to OFAC.
“OFAC is issuing this alert to inform US and non-US individuals about the sanctions risks associated with making these payments to, or requesting guarantees from, the Iranian government for safe transit. These risks exist regardless of the payment method,” it stated.
In response to Iran’s closure of the strait, the US implemented its own naval blockade on April 13, preventing any Iranian tankers from departing and cutting Iran off from crucial oil revenue needed to stabilize its struggling economy.
The US Central Command indicated that 45 commercial vessels have been instructed to turn back since the commencement of the blockade.
Trump dismisses Iranian proposal
The warning comes as US President Donald Trump swiftly turned down Iran’s latest proposal to resolve the conflict between the two nations.
“They want to negotiate a deal, but I’m not satisfied with it, so we’ll see what occurs,” Trump said on Friday at the White House. He did not elaborate on what he found lacking but voiced frustration with the Iranian leadership.
“It’s a very disorganized leadership,” Trump remarked. “They all wish to make a deal, yet they are all tangled up.” According to Iran’s state-run IRNA news agency, Iran submitted its plan to mediators in Pakistan on Thursday evening.
The fragile three-week ceasefire between the US and Iran seems to be holding, although both sides have exchanged accusations of violations. The standoff is increasingly exerting pressure on the global economy, resulting in rising prices and shortages of fuel and other goods associated with the oil sector.
Phone negotiations continued after Trump canceled his envoys’ trip to Pakistan last week, as stated by the president. This week, Trump proposed a new plan to reopen the essential passageway used by America’s Gulf allies for their oil and gas exports.
Iranian Foreign Minister Abbas Araghchi has briefed many of his regional counterparts on Iran’s efforts to conclude the conflict, according to his social media updates. He also held discussions on Friday with European Union foreign policy chief Kaja Kallas, who has been in contact with the EU’s Gulf partners.
China’s UN envoy urges Iran to lift restrictions
Fu Cong, the Chinese ambassador to the United Nations, stated on Friday that maintaining the ceasefire is “the most urgent issue,” as well as bringing the parties together to resume good-faith negotiations “to ensure that the groundwork is laid for the reopening of Hormuz.” Foreign Minister Wang Yi “has been on the phone almost continuously” with representatives from all sides, Fu noted, adding that China backs Pakistan’s mediation efforts.
Fu emphasized that the underlying cause of the immense suffering in Iran and surrounding countries, along with the growing turmoil in the global economy, especially in developing nations, “is the illegitimate war waged by the US and Israel.”
