U.S. Treasury sanctions Iran's Strait‑Control agency
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- U.S. Treasury announced sanctions on Iran's Persian Gulf Strait Authority and any individuals or entities cooperating with it, targeting its toll‑charging scheme for vessels in the Strait of Hormuz.
- U.S. forces struck an Iranian military facility after downing attack drones, a military action that preceded the sanctions announcement.
- Iran's Revolutionary Guard defended the agency's control, insisting the designated corridor is the only safe route and that ships deviating face attacks.
- President Trump said Iran is "negotiating on fumes" and that a deal to end the war and reopen the strait is imminent, despite recent U.S. strikes.
- Global energy markets have felt spikes in oil, gas, and related product prices due to Iran's effective closure of the strait, creating worldwide energy shocks.
Why it matters: Shipping firms lose access and risk $2 million tolls; oil traders gain leverage as the sanctions aim to reopen the strait, easing the price surge from Iran’s blockade and the 900‑barrel inventory dip.
