US sanctions Iranian agency trying to control Strait of Hormuz
Summary
The U.S. Treasury Department imposed sanctions on the Persian Gulf Strait Authority (PGSA), an Iranian agency created to manage the Strait of Hormuz. The U.S. sees this agency as part of Iran’s Islamic Revolutionary Guard Corps trying to control this important shipping route.Key Facts
- The U.S. Treasury Department sanctioned the PGSA on Wednesday.
- The PGSA is a new organization formed by the Iranian government this month.
- Its purpose is to manage the Strait of Hormuz, a key waterway in the Persian Gulf.
- The U.S. says the PGSA is linked to Iran’s Islamic Revolutionary Guard Corps (IRGC).
- The IRGC is accused of trying to earn money from controlling the Strait.
- The Strait of Hormuz is a major global shipping route for oil and goods.
- Sanctions are aimed at stopping Iran’s influence over this strategic area.
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