The U.S. Treasury warned on Friday, May 1, that shippers paying tolls to Iran for passage through the Strait of Hormuz are at risk of punitive sanctions. These prohibited payments include charitable donations to organizations such as the Iranian Red Crescent Society.
The United States specified that such payments could include digital assets, offsets, informal swaps, or other in-kind payments. The strait has been shut to normal traffic since Iran began attacking and threatening ships after the U.S. and Israel launched a war on Feb. 28.
The warning follows reports from Iranian state media that Tehran has presented a new peace proposal to the U.S. President Donald Trump has rejected the latest proposal to end the war between the countries.