WANA (Aug 31) – The U.S. Office of Foreign Assets Control (OFAC) has issued a new notice warning shipping industry participants about potential sanctions consequences related to cooperation with Iranian entities involved in vessel transit through the Strait of Hormuz.

 

According to the notice, foreign companies and institutions could face the risk of U.S. sanctions if they pay fees or receive certain services from Iranian entities related to the safe passage of ships through the strategic waterway.

 

OFAC has urged shipping companies to conduct additional due diligence before transiting the Strait of Hormuz, including reviewing any links between vessels and Iran and assessing the possibility of financial transactions or services involving Iranian entities.

 

The warning comes after former U.S. President Donald Trump previously made statements claiming that the Strait of Hormuz was under U.S. control.

 

However, the latest OFAC notice does not announce any decision to block maritime traffic through the Strait of Hormuz. Instead, it focuses on warning about potential sanctions risks arising from interactions with Iranian individuals and entities involved in the shipping sector.