The U.S. Treasury’s Office of Foreign Assets Control has designated two firms allegedly involved in an extortion scheme backed by Iran in the Strait of Hormuz. These companies reportedly forced vessels to purchase maritime insurance to transit this strategic waterway. This action represents an escalation in the U.S. response to Iran’s coercive maritime practices amid the 2026 Strait of Hormuz crisis. Markets interpret this move as a sign of increased U.S. opposition, with prediction-market odds for implementing Hormuz fees dropping to 0.3% by July 31, 2026.
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