The US has threatened to sanction shipping companies that pay Iran tolls to transit the Strait of Hormuz.
The strategic waterway has been effectively closed following US and Israeli strikes on Iran that started in late February, with traffic restricted to a single IRGC-controlled corridor under a de facto ‘toll booth’ system. Vessels transiting the corridor reportedly require clearance codes and Iranian escort.
According to Lloyd’s List, at least two ships have paid for passage in yuan, with fees reportedly ranging from $1 million to $2 million.
On Friday, the US Office of Foreign Assets Control (OFAC) issued an alert warning of consequences…
Read the full article at RT.COM
