Washington, July 29 -- The United States on Wednesday slammed fresh sanctions on entities connected with Iran's Revolutionary Guards, accusing them of shaking down commercial vessels operating through the Strait of Hormuz.

The US Treasury Department stated that the punitive action hits eight oil tankers and 10 corporate entities. These sanctions represent the latest move in Washington's relentless "maximum pressure" drive aimed at crippling Iran's illicit petroleum trade and covert shadow fleet.

An official statement noted that the action zeroed in on "the Iranian regime's desperate efforts to monetise the Strait of Hormuz and prop up the nation's failing economy".

US authorities charged Tehran with deploying an "extortion scheme" back...