Iran's Persian Gulf Strait Authority (PGSA) has warned that vessels breaching strait of Hormuz transit rules could face restrictions on future passages, including fines, seizure or confiscation.
The PGSA advised cargo owners in a 24 August notice published on social media platform X to check an updated list of non-compliant vessels (NCV) before fixing ships for voyages to or from the Mideast Gulf.
The PGSA, which was sanctioned by the US Treasury's Office of Foreign Assets Control in May, published a list of 46 NCVs, threatening those named with fines, detention, seizure or confiscation during future transits of the strait of Hormuz.
The published list includes ships linked to several prominent owners and operators across the tanker, gas carrier and dry bulk sectors, including vessels associated with companies in the UAE, Greece, India, South Korea and others.
The notice also warned that vessels conducting ship-to-ship transfers, transshipment or other operations with ships already on the list could also be designated as non-compliant.
Any vessel co-operating with listed vessels, such as via ship-to-ship operations or transshipment, will be added to the list effective immediately, PGSA said.
Vessel operators seeking the removal of their vessels from the non-compliance list are required to submit a formal application and supporting explanation to the PGSA.
The latest warning adds a further layer of operational and legal risk for shipowners, charterers and traders operating through the strait of Hormuz, where transit arrangements have become increasingly sensitive because of heightened regional tensions.
Market participants are monitoring the situation closely, as enforcement of the measures could influence routing strategies, insurance costs and vessel deployment decisions, they said.
The notice comes after US president Donald Trump said late last week that he was preparing for "economic warfare" against Iran and countries that provided it financial assistance. US treasury secretary Scott Bessent said on 22 August that he is set to unveil a "maximum economic pressure" campaign on 24 August.
Bessent then said on X on 24 August that the campaign would be "the single greatest financial offensive ever marshaled against an adversary", adding that its goal was to cut "every economic lifeline" tied to Iran.
Iran-Iraq discussions
Iraqi president Nizar Amidi discussed possible measures to ease the passage of Iraqi oil tankers through the strait of Hormuz during talks with Iranian parliament speaker Mohammad Bagher Ghalibaf, according to a statement on Iraq's presidency website on 22 August.
Amidi said that Iraq is "incurring losses" as a result of the closure of the strait and expressed hope that there would be "facilitations for tankers carrying Iraqi oil", without providing further details.
The remarks were made during a dialogue session at the Eighth Baghdad Dialogue Conference, organised by Iraq's Institute for Dialogue on 22 August.
Iraq exported 2mn b/d of crude in August, oil minister Basim Mohammed Khudair said, as the country contends with disruptions affecting shipments through the strait of Hormuz. Crude loadings averaged at about 3.5mn b/d before the US-Iran war, tracking data compiled by Argus show.
