U.S. Sec. Scott Bessent:
“The Iranian regime will lose the zero-sum game it is playing.
Any damage it inflicts on our allies in the Gulf will be paid for with funds extracted from Iranian Accounts.
Any tolls paid to the Persian Gulf Strait Authority will be offset by funds extracted from their accounts.
Every attack Iran launches will only deepen the economic and financial consequences it faces.”
This is a big move.
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U.S. Sanctions Iran Strait Authority
The U.S. Treasury has sanctioned Iran's Persian Gulf Strait Authority, calling it "a joke" and warning all entities against paying tolls or concealing them as aid.
Iranian troops are going unpaid, police are not reporting for work, and Kha...
The U.S. Treasury has sanctioned Iran's Persian Gulf Strait Authority, calling it "a joke" and warning all entities against paying tolls or concealing them as aid.
Iranian troops are going unpaid, police are not reporting for work, and Kharg Island has been shut down. The economy and currency are in free fall.
A U.S. naval blockade has pushed Iranian crude on the water to record lows. Both Iranian airlines will be cut off from landing access, refueling, and ticket sales. Treasury says only a satisfactory negotiated outcome will reverse the pressure.
Iran Defines Hormuz Strait Authority
The New Iran's Persian Gulf Strait Authority (PGSA):
The Islamic Republic of Iran has defined the regulatory jurisdiction for the management of the Hormuz_Strait as follows:
“The line connecting Kuh-e Mubarak in Iran to the south of Fujai...
The New Iran's Persian Gulf Strait Authority (PGSA):
The Islamic Republic of Iran has defined the regulatory jurisdiction for the management of the Hormuz_Strait as follows:
“The line connecting Kuh-e Mubarak in Iran to the south of Fujairah in the UAE at the eastern entrance of the Strait, to the line connecting the tip of Qeshm Island in Iran to Umm Al-Quwain in the UAE at the western entrance.”
Transit through this area for the purpose of passing through the Hormuz strait requires coordination with, and authorization from, the Persian Gulf Strait Authority (PGSA).
Iran Creates Strait of Hormuz Authority
Iran has established a new body called the "Persian Gulf Strait Authority" (PGSA), designated as the official legal entity overseeing transit through the Strait of Hormuz.