OFAC Targets Iran’s Crypto-Funded Toll Scheme in Strait of Hormuz
The US Treasury’s Office of Foreign Assets Control (OFAC) sanctioned two companies accused of supporting an IRGC-backed scheme that allegedly extorted industrial vessels transiting the Strait of Hormuz by requiring them to buy maritime insurance coverage. Wednesday’s designations hit the Persian Gulf Marine Insurance Company and HormuzSafe Marine Services Authority, often known as Hormuz Safe….
