Washington, July 29 -- The US on Wednesday announced new sanctions targeting Iranian entities, amid its intensifying efforts to curb Tehran's energy revenues and counter what Washington claims are attempts to exert control over commercial shipping in the vital Strait of Hormuz corridor.
In a statement, State Department spokesperson Tommy Pigott said the US Treasury had sanctioned two Iranian insurance firms - Persian Gulf Marine Insurance Company and Hormuz Safe Marine Services Authority - claiming that both were backed by Iran's powerful theocratic guard, the IRGC.
According to Pigott, the companies operate schemes that profit from risks created by the Iranian government.
He said the entities extort international shipping by creating se...