Iran’s newly formed Persian Gulf Strait Authority (PGSA) warned on Monday that vessels violating transit rules in the Strait of Hormuz could face fines, detention, or confiscation. The warning, issued via a post on X, follows the expiration of a 60-day ceasefire window without a U.S.-Iran agreement and comes as Washington prepares to impose fresh sanctions targeting Tehran’s trading partners.
The PGSA said cargo owners must consult an updated list of non-compliant vessels, including those involved in ship-to-ship transfers or transshipment with listed ships. Vessels may be added to the list for violations, and removal requires a formal request with supporting documentation submitted to Iranian maritime authorities.
The new U.S. measures, set to take effect Monday, expand existing sanctions on Iran’s banking, energy, aviation, and cryptocurrency sectors. U.S. Treasury Secretary Scott Bessent described the campaign as an economic "D-Day" in a Sunday opinion piece for the Financial Times, stating that any nation enabling Iran’s financial networks should expect to face isolation. Bessent is scheduled to hold a press conference at 1 p.m. EDT (1700 GMT) Monday to detail the measures.
The Trump administration has cited Iran’s economic deterioration, including runaway inflation and a collapsing currency, as justification for the escalation. Diplomatic and military tensions between Washington and Tehran have eased in recent weeks, though no ceasefire talks have materialized in the six months since the conflict began.
