US Treasury sanctions Persian Gulf Strait Authority
The US Treasury added the Persian Gulf Strait Authority to its sanctions list. The body manages passage through the Strait of Hormuz, a key oil transit point.
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The United States added the Persian Gulf Strait Authority to its sanctions list on Wednesday following the body's move to control maritime traffic. Iran established the authority to manage passage through the Strait of Hormuz, which carries 20% of the global oil supply. The designation targets Tehran's ability to restrict energy flows, impacting Brent Crude Oil prices and global trade stability.
