US sanctions eight Iran-linked tankers and ten entities

The United States imposed new sanctions on Wednesday, July 29, 2026, targeting eight tankers and 10 entities it accuses of helping Iran generate revenue from ships transiting the Strait of Hormuz. The action, announced by the Treasury Department's Office of Foreign Assets Control, is part of a broader escalation that includes recent U.S. military strikes and follows a vow by President Donald Trump to respond forcefully to Iranian missile attacks.

The sanctions focus on what U.S. officials describe as an extortion scheme backed by Iran's Islamic Revolutionary Guard Corps. The Treasury Department stated that the scheme forces commercial vessels to purchase mandatory maritime insurance to transit the strategic waterway. Two key entities designated are the Persian Gulf Marine Insurance Company and the HormuzSafe Marine Services Authority, which Washington says are integral to the operation. Officials allege these entities manufacture risks, including the threat of vessel seizures, and then charge ships for coverage against dangers they claim are created by the Iranian regime itself. The revenue is intended to fund the regime's activities, according to the Treasury.