The US imposed sanctions on two Iranian companies that charge for safe passage through the Strait of Hormuz, an attempt to loosen Tehran’s grip on the vital waterway as hostilities between the countries resume. The Treasury Department on Wednesday announced new penalties on Persian Gulf Marine Insurance Company and HormuzSafe Marine Services Authority, which it said force commercial vessels to purchase mandatory maritime “insurance” to transit Hormuz. The US, which has blockaded Iran’s ports as part of its effort to pressure Tehran into capitulation, also sanctioned eight companies operating “shadow fleet” vessels transporting Iranian oil. bloomberg.com/news/articles/…

The US imposed sanctions on two Iranian companies that charge for safe passage through the Strait of Hormuz, an attempt to loosen Tehran’s grip on the vital waterway as hostilities between the countries resume. The Treasury Department on Wednesday announced new penalties on Persian Gulf Marine Insurance Company and HormuzSafe Marine Services Authority, which it said force commercial vessels to purchase mandatory maritime “insurance” to transit Hormuz. The US, which has blockaded Iran’s ports as part of its effort to pressure Tehran into capitulation, also sanctioned eight companies operating “shadow fleet” vessels transporting Iranian oil. bloomberg.com/news/articles/…

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