-- The US Treasury Department's Office of Foreign Assets Control on Friday issued an alert warning of sweeping sanctions risks tied to Iran-linked payments for Hormuz transit, flagging exposure for global firms and financial institutions.
OFAC said Iranian authorities are allegedly threatening shipping and demanding "toll" payments to allow vessels safe passage through the Strait of Hormuz.
Iran may seek payments through government-issued fiat currency, digital assets, offsets, swaps, or in-kind payments, including donations to entities such as the Iranian Red Crescent Society, OFAC added.
It warned that both US and non-US entities face sanctions risks when making such payments or seeking passage guarantees from Tehran, regardless of the payment structure used.
US sanctions prohibit American individuals and US-controlled foreign entities from engaging in transactions with the Iranian government unless specifically authorized or exempt, OFAC said.
Authorities also bar US persons from dealing with the Islamic Revolutionary Guard Corps, which Washington has designated under counterterrorism and nonproliferation sanctions frameworks.
OFAC said US persons cannot transact with Iranian digital asset platforms, which regulators classify as blocked financial institutions under existing sanctions rules.
Non-US entities may also face secondary sanctions if they engage with Iran or the IRGC, potentially restricting their access to the US financial system, the agency said.
Officials added that foreign firms could incur civil or criminal liability if their actions cause US-linked insurers, reinsurers, or banks to violate sanctions requirements.
OFAC said maritime operators calling at Iranian ports face heightened exposure under multiple sanctions programs, as authorities continue targeting Iran's petroleum and petrochemical revenue streams.
US Central Command subjects vessels of all nations entering or leaving Iranian ports to its naval blockade, while OFAC said its authorizations do not override authorities held by other US government agencies.