On Wednesday, the administration of U.S. President Donald Trump imposed sanctions against two Iranian companies accused of supporting racketeering in the Strait of Hormuz, reports UNN citing CNN.
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The company Persian Gulf Marine Insurance Company and HormuzSafe Marine Services Authority "are an integral part of an extortion scheme supported by the Islamic Revolutionary Guard Corps (IRGC), which forces commercial vessels to purchase mandatory maritime 'insurance' for transit through the strait," it says.
Restoring free and open transit through this key waterway remains a complex issue, as Iran seeks to maintain its control over the strait.
According to the U.S. Department of the Treasury, the insurance provided by these firms "covers risks, most of which are created by Iran itself, such as ship seizures, and is aimed at generating revenue to finance the regime's terror and corruption."
The administration also imposed sanctions on companies operating vessels of the "shadow fleet" that transported banned Iranian oil and petrochemical products to China and the United Arab Emirates.
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