Today, Treasury’s Office of Foreign Assets Control designated two firms integral to an Islamic Revolutionary Guard Corps-backed extortion scheme that forces commercial vessels to purchase mandatory maritime “insurance” to transit the Strait of Hormuz. Although this coverage…
The Bitcoin railTreasury Secretary Scott Bessent said the Iranian regime is "desperate for cash," with its economy "in freefall" and inflation in triple digits, and that Washington would not let Iran "hold global commerce hostage."
The same action designated eight tankers and their operators over cargoes of Iranian crude and petroleum products, most of the companies registered in Hong Kong. More than 100 vessels tied to Iran's shadow fleet have been sanctioned since January. Treasury said the insurance schemes were set up to replace revenue lost to Operation Epic Fury.
