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Yeshiva World News · Jul 29, 2026

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The U.S. Treasury sanctioned two Iranian companies accused of operating an IRGC-backed extortion scheme that forced commercial vessels to purchase mandatory “insurance” to pass through the Strait of Hormuz. The Treasury also targeted eight companies and eight vessels tied to Iran’s shadow oil fleet, accusing them of transporting Iranian crude and petroleum products, primarily to China and the UAE, as Washington moves to further restrict Tehran’s oil revenues.

The U.S. Treasury sanctioned two Iranian companies accused of operating an IRGC-backed extortion scheme that forced commercial vessels to purchase mandatory “insurance” to pass through the Strait of Hormuz. The Treasury also targeted eight companies and eight vessels tied to Iran’s shadow oil fleet, accusing them of transporting Iranian crude and petroleum products, primarily to China and the UAE, as Washington moves to further restrict Tehran’s oil revenues.

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