US Threatens Ships Paying Iran for Strait of Hormuz Passage

The U.S. Treasury Department warned shipping companies on May 1, 2026, that any entities paying tolls to Iran for safe passage through the Strait of Hormuz risk facing punitive sanctions. The advisory, issued by the Office of Foreign Assets Control (OFAC), targets both U.S. And non-U.S. Persons who comply with Iranian demands for payment to navigate the strategically vital waterway.

The warning comes as Iran has proposed fees or tolls for vessels passing through the strait, a move Tehran has linked to proposals to end the ongoing war with the United States and Israel. According to reports, the Iranian Revolutionary Guard Corps (IRGC) has demanded that ships utilize a shipping corridor near the Iranian coast and pay a fee reportedly around $1 million per ship.

Sanctions and Payment Methods

OFAC stated that the U.S. Is aware of Iranian threats to shipping and the subsequent demands for payments in exchange for safe passage. The Treasury clarified that these payments are prohibited regardless of the method used to transfer funds.

The advisory noted that demands for payment may take several forms, including:

• Fiat currency and digital assets
• Offsets and informal swaps
• In-kind payments, specifically nominally charitable donations made to the Iranian Red Crescent Society, the foundation Bonyad Mostazafan, or Iranian embassy accounts

The U.S. Government emphasized that payments disguised as charity or indirect transfers are not permitted and could expose maritime service providers to sanctions risk. OFAC encouraged all maritime providers to conduct enhanced due diligence on vessels transiting the strait to ensure they have not engaged in sanctionable conduct involving Iran.

The Dual Blockade and Economic Impact

The tension over the Strait of Hormuz is part of a broader conflict that began on February 28, 2026, when the United States and Israel launched an air war against Iran. In response to the conflict and the assassination of supreme leader Ali Khamenei, Iran restricted traffic through the strait. On April 13, 2026, the U.S. Navy began a blockade of Iranian ports, creating what has been described as a dual blockade.

The disruption of the strait, which typically handles about 20 percent of the world’s seaborne crude oil and liquefied natural gas flows, has caused significant volatility in energy markets. International benchmark Brent crude briefly rose over $126 a barrel on April 30, 2026, before trading at just over $111 a barrel on May 1, 2026.

In the United States, the maritime gridlock contributed to a rise in fuel costs. According to AAA, national gas prices jumped more than nine cents in a single day to $4.39.

Political Standoff and War Powers

The Treasury’s warning coincided with a critical legal deadline for the executive branch. On May 1, 2026, President Donald Trump informed Congress that hostilities with Iran had terminated, coinciding with the 60-day deadline under the War Powers Resolution. This deadline required the president to either seek formal congressional authorization or wind down military operations.

Despite the notification to Congress, President Trump stated he is not satisfied with the latest negotiation plan delivered by Iran to Pakistani mediators. Speaking at an event at The Villages Charter School in Florida on May 1, 2026, the president defended the necessity of the conflict.

“We cannot let lunatics have a nuclear weapon.”

President Donald Trump

The U.S. Central Command reported that 45 commercial vessels have been directed to turn around or return to port to ensure compliance with the ongoing blockade of Iranian ports. While the administration has indicated that gas prices could drop once the war ends, the Treasury’s latest advisory signals a continued hardline approach toward any maritime entities attempting to bypass the blockade through payments to the Iranian regime.