London: Any shippers paying tolls to Iran for passage through the Strait of Hormuz, including charitable donations to organizations such as the Iranian Red Crescent Society, are at risk of punitive sanctions, the US Treasury warns.
The Strait of Hormuz is one of the world’s most strategically vital maritime routes, with about 20% of the world’s seaborne crude oil and liquefied natural gas flows passing through it.
Tehran has proposed fees or tolls on vessels passing through the strait, as part of proposals to end the war with Israel and the United States.
The advisory, from Treasury’s Office of Foreign Assets Control, says the US is aware of Iranian threats to shipping and demands for payments to receive safe passage through the strait.
OFAC says demands may include several payment options, including fiat currency, digital assets, offsets, informal swaps, or other in-kind payments, such as nominally charitable donations made to the Iranian Red Crescent Society, Bonyad Mostazafan, or Iranian embassy accounts.
“OFAC is issuing this alert to warn US and non-US persons about the sanctions risks of making these payments to, or soliciting guarantees from, the Iranian regime for safe passage,” it says. “These risks exist regardless of payment method.”
Meanwhile, shipping traffic through the critical Strait of Hormuz has experienced a remarkable decline, with reports indicating a drop of over 90 per cent due to intensifying geopolitical tensions in West Asia.
This reduction follows a series of military actions involving the United States and Israel against Iran.
The UK Maritime Trade Operations (UKMTO), an organisation linked to the Royal Navy, has documented more than 40 incidents occurring between March 1 and April 27. These incidents include attacks on vessels, damage to ships, instances of harassment, and near-misses that have involved merchant shipping navigating through these waters.
Officials associated with the UKMTO have revealed that between 850 and 870 sizeable merchant vessels are currently stranded in the Gulf, unable to navigate safely due to safety concerns within the narrow waterway. The ramifications of this standstill are profound; seafarers on these vessels are facing increasingly dire circumstances. As the situation deteriorates, crew changes have become impossible, and essential supplies are running low on these ships. Commander Black has expressed alarm over the potential impact on the mental well-being of seafarers if the crisis persists. With commercial shipping at a standstill, it is crucial to address the needs of these individuals caught in a precarious situation.
Officials have cautioned that the ongoing disruptions in the Strait of Hormuz could extend beyond immediate maritime concerns, potentially affecting global trade routes and elevating the risk of piracy resurgence off the coast of Somalia. As tensions persist, the UKMTO continues to issue real-time advisories and warnings aimed at ensuring the safety of maritime operations.
