U.S. Treasury sanctions Iran’s ‘Persian Gulf Strait Authority’, an IRGC-linked entity accused of extorting vessels in the Strait of Hormuz to fund Iran’s military, proxies and nuclear programme

OFAC designates the Persian Gulf Strait Authority under counterterrorism sanctions, describing it as an IRGC-linked mechanism to impose illegitimate tolls, demand vessel information and direct commercial traffic through the Strait of Hormuz. Treasury warns that anyone co-operating with the authority may face sanctions exposure, including where payments are made through fiat currency, digital assets, offsets, informal swaps or other in-kind…