Washington DC, May 1 -- The US Treasury Department on Friday warned shipping companies and maritime operators of potential sanctions if they make payments to Iran for safe passage through the strategic Strait of Hormuz.

According to an advisory issued by the Treasury Department's Office of Foreign Assets Control (OFAC), it is aware of Iranian threats to shipping and alleged demands for "toll" payments in exchange for safe passage through the strategically important waterway.

It noted that such payments could take various forms, including fiat currency, digital assets, offsets, informal swaps, or even in-kind contributions such as donations routed through organisations like the Iranian Red Crescent Society, Bonyad Mostazafan, or Iranian ...