The U.S. Government has imposed sanctions on Persian Gulf Strait Authority, an Iranian government agency responsible for the authorization and regulation of maritime transit through Iranian waters.
It was launched on May 5 as the U.S. warships entered the Strait of Hormuz to enforce blockade of Iranian ports.
After the U.S. attacked Iran, Iran declared that vessels would be required to pay for safe passage through the Strait of Hormuz. By charging tolls for transiting the international waterway, the Islamic Revolutionary Guard Corps guarantees ships will not be openly attacked.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.