US sanctions Iran's Persian Gulf Strait Authority
Washington, May 28
The Persian Gulf Strait Authority, an Iranian authority overseeing shipping control in the Strait of Hormuz, has been added to the Specially Designated Nationals List in a fresh sanction move under the US Economic Fury campaign, the US Treasury Department said.
In a press release posted on its website on Wednesday (local time), the department's Office of Foreign Assets Control claimed the Strait Authority sought to impose illegitimate tolls on commercial traffic and force vessels to follow Iranian direction in return for safe passage.
It also warned that anyone cooperating with the authority may be exposed to sanctions risk.
"The Iranian military's latest attempt to extort global maritime trade is proof that Economic Fury has left the regime desperate for cash," said US Secretary of the Treasury Scott Bessent.
On May 18, Iran launched the Persian Gulf Strait Authority, a new body to manage the Strait of Hormuz. In a statement posted on X on May 20, the authority defined its supervisory jurisdiction over the strait, noting that vessels transiting the area through the Strait of Hormuz are required to coordinate with Iranian authorities and obtain authorisation.
Earlier in the day, speaking during a cabinet meeting at the White House, US President Donald Trump said Iran had hoped political pressure tied to the upcoming midterm elections would weaken his negotiating position.
"They thought they were going to outwait me," Trump said. "I don't care about the midterms."
Regarding the ongoing negotiations, Trump said Washington is not yet satisfied with the terms under discussion and remains prepared to resume military action if its demands are not met, reports Xinhua news agency.
"We're not satisfied with it, but we will be," Trump said. "Either that or we'll have to just finish the job."
"They want to just make a deal," he said. "I don't think they have a choice."
Additionally, during the Cabinet Meeting, Trump said that Iran would not receive sanctions relief in exchange for giving up its stockpile of highly enriched uranium.
"No, no, not at all. Not sanctions relief, no," Trump said when asked if the current framework would mean Iran giving up its highly enriched uranium in exchange for sanctions relief in a brief phone interview with PBS News.
"They're gonna give up their highly enriched uranium not for sanctions relief. No, no, not at all," the president added.
— IANS
Reader Comments
Honestly, both sides are playing politics. Iran's new authority is clearly provocative, but US sanctions are just bullying. Why should India be collateral damage in their power games? Our oil imports and trade routes are at risk. It's time for India to have its own independent foreign policy.
Trump's "Economic Fury" campaign is just another name for economic warfare. The US claims Iran is extorting trade, but who gave America the right to sanction every country it disagrees with? India should call for de-escalation and protect our strategic interests in the region.
Classic US double standards. They impose tolls on global trade through SWIFT and sanctions, but when Iran tries to control its own waters, it's "extortion"? Hypocrisy at its finest. India must build alternative trade routes like INSTC and Chabahar to reduce dependence on Gulf shipping lanes.
While I understand India's need for energy security, we cannot ignore Iran's aggressive behaviour. Creating a new authority to "manage" international straits is a violation of maritime law. But at the same time, US sanctions without UN mandate are equally problematic. India should mediate, not take sides.
Just another chapter in US-Iran drama where India gets caught in the middle. Remember what happened with oil imports during Trump's first term? We paid a heavy price. It's time India invests in domestic energy production and diversifies our energy partners. Strategic autonomy requires energy independence.
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.