U.S. Government Prohibits Agreements for 'Safe Passage' with Iran; Navigation in Hormuz Remains Challenging

05/30 16:00

On May 30, the U.S. Department of the Treasury and the Office of Foreign Assets Control (OFAC) issued an updated statement explicitly prohibiting U.S. individuals from entering into any 'safe passage' agreements with the Iranian government or the Islamic Revolutionary Guard Corps, even if no fees are involved. Iran's newly established 'Persian Gulf Strait Management Bureau' aims to charge 'toll fees' for vessels passing through the Strait of Hormuz and provide security guarantees. The U.S. has designated this bureau for sanctions, warning that any dealings with it face the risk of sanctions. The Treasury Department's statement emphasized that requesting 'safe passage guarantee' services from Iran is prohibited, regardless of payment. The U.S. continues to maintain a hardline stance on sanctions against Iran, rejecting any form of 'paid protection' or similar transactions. According to monitoring by PolyBeats, the probability of 'navigation through the Strait of Hormuz' occurring before June 15 is 8%, and the probability before the end of June is 34%.

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