US threatens shipping firms with sanctions if they pay Iran tolls

May 2, 2026

The United States has issued a warning that shipping companies could face sanctions for paying tolls to Iran for safe passage through the Strait of Hormuz, following Iran's decision to collect fees from vessels navigating the waterway. This development occurs amid ongoing tensions where the US has enforced a naval blockade on Iranian ports since mid-April, while Iran has restricted traffic through the strait since conflict erupted in February. The situation has dramatically reduced maritime traffic from roughly 3,000 ships monthly to just a handful daily, severely disrupting a critical shipping channel for oil, food, medicines, and other essential goods.

Who is affected

Shipping companies (both US and international) operating in the Strait of Hormuz
Iranian government entities and Iran's Central Bank
US persons, companies, insurers, and financial institutions
Three Iranian foreign currency exchange houses sanctioned by the US Treasury
Commercial ships (45 have been turned away since the blockade began)
Refugees and displaced people requiring humanitarian aid
People in Sudan and other emergency situations
UNHCR (UN refugee agency)
Iranian leadership (including successor Mojtaba Khamenei)
US-allied states in the Gulf

What action is being taken

The US Office of Foreign Assets Control (OFAC) is enforcing sanctions against entities paying Iran
The US is enforcing a naval blockade on Iranian ports, turning ships around
Iran is collecting tolls from ships navigating through the Strait of Hormuz
Iran is targeting and striking ships passing through the strait
The US Treasury is sanctioning Iranian foreign currency exchange houses
UNHCR is rerouting sea cargo and relying more on land corridors for aid delivery
The US and Iran are holding talks under a fragile ceasefire (established April 8)

Why it matters

The Strait of Hormuz is a crucial global shipping channel through which approximately 3,000 ships typically pass monthly, carrying oil and essential goods including food, medicines, and technology supplies. The combined effect of Iranian toll collection, US naval blockade, and sanctions has reduced traffic to just a handful of ships daily, creating severe disruptions to global supply chains and humanitarian operations. The humanitarian consequences are particularly severe, with aid delivery costs doubling for crisis regions like Sudan, disproportionately affecting refugees and displaced populations who depend on timely assistance. This situation represents a significant escalation in US-Iran tensions with far-reaching economic and humanitarian implications beyond the immediate region.

What's next

OFAC stated it "will continue to aggressively target Iran's main revenue-generating sectors, in particular its petroleum and petrochemical sectors"
Treasury Secretary Scott Bessent said his agency would "relentlessly target the regime's ability to generate, move and repatriate funds, and pursue anyone enabling Tehran's attempts to evade sanctions"
Iran has submitted a proposal to end the war through mediators in Pakistan, though President Trump responded negatively and indicated he is "not excited" about making a deal
UNHCR warned that "if instability in the Middle East persists, rising costs, delays and limited transport capacity are likely to constrain humanitarian operations further"

Read full article from source: BBC