Archive · 30 Jul 2026
US Imposes Sanctions on Iran's Hormuz Revenue Scheme
The United States announced new sanctions on July 29, 2026.
They are aimed at companies and ships that help Iran make money from ships passing through the Strait of Hormuz.
The U.S. says these companies force ships to buy fake insurance and then charge them.
The sanctions also target eight ships that carry Iranian oil to China and the United Arab Emirates.
The U.S. wants to stop Iran from using shipping to fund its military and keep its economy from falling further.
US Treasury and State Departments imposed sanctions on 10 entities and 8 tankers linked to Iran’s Revolutionary Guards.
Targets include the Persian Gulf Marine Insurance Company and HormuzSafe Marine Services Authority.
Sanctions aim to stop an alleged extortion scheme that forces ships to buy insurance for transit through the Strait of Hormuz.
Eight ships accused of transporting Iranian crude oil and petrochemicals to China and the UAE were also sanctioned.
The move follows renewed tensions after Iran blocked the Strait of Hormuz on July 7, 2026.
- Who
- U.S. Treasury Department and U.S. State Department officials
- What
- Sanctions targeting entities linked to Iran's Revolutionary Guards for extorting shipping through the Strait of Hormuz
- When
- July 29, 2026
- Where
- United States, Strait of Hormuz, Iran
- Why
- To pressure Iran's economy and stop its revenue scheme
- Sanctioning Authority
- U.S. Treasury Department
- Targeted Entities
- 10 entities and 8 tankers
- Targeted Companies
- Persian Gulf Marine Insurance Company, HormuzSafe Marine Services Authority
- Date of Sanctions
- July 29, 2026
- Reason
- Extortion scheme in Strait of Hormuz
- Affected Region
- Strait of Hormuz
