The United States Prohibits Domestic Individuals or Entities from Paying Transit Fees for the Strait of Hormuz to Iran

BlockBeats News, April 29. The U.S. Department of the Treasury's Office of Foreign Assets Control issued an interpretive document stating that the U.S. prohibits its individuals or entities from paying the Hormuz Strait Passage Fee to Iran. The document declares that including U.S. individuals, U.S. financial institutions, and U.S.-owned or controlled foreign entities, are prohibited from directly or indirectly paying the Hormuz Strait Passage Fee to the Iranian government or the Islamic Revolutionary Guard of Iran. The Office of Foreign Assets Control stated that non-U.S. individuals or entities paying the Hormuz Strait Passage Fee to Iran would also face significant sanction risks. Due to the U.S. sanctions on the Iranian government and the Islamic Revolutionary Guard of Iran for reasons related to non-proliferation and counterterrorism, foreign financial institutions and other non-U.S. individuals or entities engaging in certain transactions or activities with sanctioned entities would be at risk of sanctions. Transactions involving certain sectors of the Iranian economy may also expose foreign individuals or entities to sanction risks. On the same day, the U.S. Office of Foreign Assets Control also added 17 foreign individuals and 18 foreign entities to the Iran-related sanctions list. (CCTV)