<p>Washington: The <a href="https://www.deccanherald.com/tags/united-states">United States</a> has sanctioned the Persian Gulf Strait Authority, the body <a href="https://www.deccanherald.com/tags/iran">Iran</a> has set up to manage the <a href="https://www.deccanherald.com/tags/strait-of-hormuz">Strait of Hormuz</a>, the Treasury Department said on Wednesday.</p><p>The authority is a body Iran has set up to manage requests for passage through the Strait of Hormuz.</p><p>Tehran's grip on the strait, the conduit for about a fifth of the global oil supply, has sent the world economy into turmoil.</p>.Iran could open Strait of Hormuz within a month if terms agreed: Report.<p>It closed the strait after the US and Israel launched its war against Iran on February 28.</p><p>Anyone cooperating with the authority may be providing support to and receiving services from Iran's Islamic Revolutionary Guard Corps and may be sanctioned, the Treasury said in a statement. </p><p>"The Iranian military’s latest attempt to extort global maritime trade is proof that Economic Fury has left the regime desperate for cash," Treasury Secretary Scott Bessent said.</p><p>The Persian Gulf Strait Authority published a map last week reaffirming Tehran's claims to a wide stretch of water on either side of the choke point.</p>
<p>Washington: The <a href="https://www.deccanherald.com/tags/united-states">United States</a> has sanctioned the Persian Gulf Strait Authority, the body <a href="https://www.deccanherald.com/tags/iran">Iran</a> has set up to manage the <a href="https://www.deccanherald.com/tags/strait-of-hormuz">Strait of Hormuz</a>, the Treasury Department said on Wednesday.</p><p>The authority is a body Iran has set up to manage requests for passage through the Strait of Hormuz.</p><p>Tehran's grip on the strait, the conduit for about a fifth of the global oil supply, has sent the world economy into turmoil.</p>.Iran could open Strait of Hormuz within a month if terms agreed: Report.<p>It closed the strait after the US and Israel launched its war against Iran on February 28.</p><p>Anyone cooperating with the authority may be providing support to and receiving services from Iran's Islamic Revolutionary Guard Corps and may be sanctioned, the Treasury said in a statement. </p><p>"The Iranian military’s latest attempt to extort global maritime trade is proof that Economic Fury has left the regime desperate for cash," Treasury Secretary Scott Bessent said.</p><p>The Persian Gulf Strait Authority published a map last week reaffirming Tehran's claims to a wide stretch of water on either side of the choke point.</p>