Washington/Tehran, May 28 -- The US Treasury Department has placed Iran's newly-created Persian Gulf Strait Authority under sanctions.
The Islamic Republic set up the body for overseeing traffic through the Strait of Hormuz, as well as for collecting what Tehran called navigational service fees from commercial vessels.
The move marks the latest escalation in the ongoing economic confrontation between US and Iran, despite an ongoing ceasefire and continuing diplomatic efforts to reach a broader settlement.
US Treasury Secretary Scott Bessent accused Iran of attempting to pressure global trade routes for financial gain.
"The Iranian military's latest attempt to extort global maritime trade is proof that Economic Fury has left the regime d...