Strait Talk: OFAC Designates IRGC-Linked "Transit Insurance" Schemes In Strait Of Hormuz

The U.S. Treasury's Office of Foreign Assets Control has designated two entities allegedly facilitating IRGC revenue collection through maritime services in the Strait of Hormuz, raising critical compliance questions for vessel owners and operators. This action targets entities that purport to offer legitimate marine insurance and security services but function as mechanisms for extracting payments to benefit Iranian regime actors. The designations underscore heightened U.S. scrutiny of arrangements that ma