NewzVille Desk
The Trump administration on Wednesday placed additional sanctions on Iran, targeting the country’s newly created agency that is trying to control shipping through the Strait of Hormuz. The sanctions target Iran’s Persian Gulf Strait Authority and any person or entity cooperating with the agency, announced earlier this month, that approves transit in the strait and charges tolls that could reach as high as USD 2 million per vessel.
US Treasury Secretary Scott Bessent said in a statement that the Iranian military’s latest attempt to extort global maritime trade is proof that economic fury has left the regime desperate for cash.
The move is the latest US effort to use economic leverage on top of military action to push Iran’s leadership into an agreement to end the war and open the waterway.
