US warns shippers over Iran tolls in Strait of Hormuz

The US Treasury Department has warned American shipping companies that they could face sanctions if they pay tolls demanded by Iran to pass through the Strait of Hormuz, a key global oil route.

In an advisory released Friday, May 1, cited by US media, the Treasury’s Office of Foreign Assets Control (OFAC) said it is aware that Iran has been asking vessels to pay fees in exchange for safe passage through the strait.

“U.S. persons and U.S.-owned or -controlled foreign entities are generally prohibited under U.S. sanctions from engaging in transactions with the Government of Iran, including the provision or receipt of services, unless exempt or authorised by OFAC,” the advisory reads.

OFAC did not confirm whether any companies have made such payments. However, reports indicate that some ships have paid as much as $2 million in toll fees to Tehran since the US-Israeli conflict with Iran began on February 28.

Earlier this month, a spokesperson for the Iranian Oil, Gas and Petrochemical Products Exporters’ Union said Iran planned to introduce a fee of $1 per barrel of oil carried by tankers. Under the proposal, ships would be required to inform Iranian authorities of their cargo and could be given the option to pay the fee in bitcoin.

President Donald Trump criticised the toll system after it was announced, warning Iran that it “better stop now!” He had previously suggested the possibility of the US and Iran operating a “joint venture” to manage tolls.

US Secretary of State Marco Rubio also condemned the plan in March, calling it “illegal” and “dangerous for the world.”

The warning comes as a fragile ceasefire remains in place between the US and Iran. Washington has rejected several Iranian proposals, including one put forward on Wednesday that would have reopened the Strait of Hormuz in exchange for lifting the US naval blockade on Iranian ports and vessels.

The Trump administration continues to demand further concessions from Iran regarding its nuclear program, which Tehran says is for peaceful purposes.

Trump signalled dissatisfaction with the current situation, telling Newsmax’s Greta Van Susteren that he wants “to win by a bigger margin.”

The tensions have disrupted global energy markets. The closure of the Strait of Hormuz has pushed fuel prices higher, with the US national average for gasoline reaching $4.39 per gallon on Friday, up nearly 10 cents from the previous day, according to AAA.

Despite ongoing tensions, the Trump administration said Friday that the war with Iran had already been “terminated” for “War Powers Resolution purposes” following the ceasefire.

Under the 1973 War Powers Act, a US president can deploy military forces for 60 days after notifying Congress of an “imminent threat,” with a possible 30-day extension for withdrawal. Trump formally notified Congress on March 2, making Friday the 60-day deadline.

By Tamilla Hasanova