US Treasury Warns Major Economies Not to Pay Iran Strait of Hormuz Transit Fees

The US has warned major economies not to pay transit fees to Iran for passage through the Strait of Hormuz, BlockBeats and other outlets reported on May 28.

US Treasury Secretary Scott Bessent said some companies and countries were warned that day not to pay the fees. On Iran, he added that “a good deal will end the vicious cycle.”

Bessent also addressed sanctions on Iran, saying the US would block landing and refueling rights for two Iranian airlines and restrict their authority to sell tickets.

“The US Treasury Department is continuing economic sanctions on the Iranian regime,” BlockBeats reported. It added that the Treasury has already designated Iran’s Persian Gulf Strait Port Authority for sanctions.