US Treasury Bars Hormuz Safe-Passage Deals With Iran, Including 0-Payment Arrangements
Updated
Updated · Bloomberg · May 30
US Treasury Bars Hormuz Safe-Passage Deals With Iran, Including 0-Payment Arrangements
7 articles · Updated · Bloomberg · May 30
A May 29 Treasury update said US persons cannot receive Iranian government services tied to guaranteed transit through the Strait of Hormuz, even when no toll or other payment is made.
The clarification closes any perceived loophole that non-cash or informal arrangements for safe passage might be permissible under US rules.
The move comes as the US-Iran conflict continues, tightening restrictions around one of the world's most critical oil-shipping chokepoints.
Could the Hormuz closure trigger the worst energy crisis in decades and plunge the world into recession?
With diplomacy failing and strikes resuming, is a wider regional war over the Strait of Hormuz now inevitable?
Beyond oil, what is the fate of 20,000 seafarers trapped in the world's most dangerous maritime chokepoint?