United States imposes sanctions on Iranian entities and warns Oman over Strait of Hormuz

On May 29, 2026, the United States announced new sanctions against entities, individuals, and vessels supporting the Iranian Revolutionary Guard Corps and the Iranian oil sector. Treasury Secretary Scott Bessent specifically targeted the newly established Persian Gulf Strait Authority, which was created by Tehran to collect transit fees in the Strait of Hormuz. Secretary Bessent warned that any party, including the Sultanate of Oman, would face sanctions if they cooperated with Iran in establishing a toll system in these international waters. President Donald Trump recently rejected the idea of neighboring countries controlling the Strait, asserting it must remain open. Additionally, the U.S. government announced plans to restrict the operations of two Iranian airlines, including Iran Air and Mahan Air, by cutting off access to refueling, landing rights, and ticket sales. These measures are part of the ongoing Operation Epic Rage, which began on February 28 to pressure the Iranian government economically. While reports mention a potential 60-day U.S.-Iran agreement pending approval, official communication emphasizes continued financial restrictions.