Iran has blacklisted 45 tankers for purportedly violating its protocols in the Strait of Hormuz, threatening to impose fines, detain the vessels, or confiscate their cargo, including crude oil and liquified natural gas, if the violations continue. The Persian Gulf Strait Authority issued the warning on Sunday, also noting that any vessels assisting the blacklisted ships could face penalties.
Among the affected vessels are ships from the United Arab Emirates' ADNOC Logistics and Shipping, ADNOC’s subsidiary Navig8 Tankers, and Saudi Arabia's national shipping carrier, Bahri. The actions by Iran follow a stern warning from U.S. Treasury Secretary Scott Bessent, who stated on Friday that Iran would soon face "the toughest sanctions in history" that could potentially "collapse the regime."
Bessent announced via X on Sunday that the U.S. was entering an "endgame" with an "economic D-Day" commencing Monday, describing it as the "single greatest financial offensive ever marshaled against an adversary." The U.S. Treasury is reportedly preparing to announce measures detailing which entities could face secondary sanctions for continuing to conduct business with Iran. These coordinated actions aim to exert significant economic pressure on Tehran, particularly given its existing economic challenges, including heightened inflation exacerbated by the ongoing conflict.
Iran has responded to the potential sanctions by vowing "crushing, punishing and devastating" consequences, asserting that any nation supporting U.S. economic penalties would be participating in an "act of war" against Tehran.
The U.S. has maintained a naval blockade in the region since a Memorandum of Understanding with Iran dissolved in early July. While this blockade has hampered Tehran's oil exports, ships from other nations have been permitted to transit the strait. Data indicates a significant reduction in vessel traffic, with only 16 ships exiting the chokepoint in the 24 hours prior to the report, a stark contrast to over 100 daily transits before the conflict began on February 28. Despite the reduced traffic, Energy Secretary Chris Wright stated last week that the "7-day average of oil leaving the Strait is over 8 million barrels a day," attributing the flow to the U.S. Navy's presence.
Approximately 20% of the world's seaborne oil typically passes through the Strait of Hormuz. In parallel with Iran's recent actions and the looming U.S. sanctions, some Iranian officials have publicly suggested that the conflict is nearing its conclusion. Iranian President Masoud Pezeshkian stated on Friday that "the war must come to an end at some point," emphasizing the importance of demonstrating strength and dignity while concluding hostilities. Parliament Speaker Mohammad Bagher Ghalibaf echoed sentiments about peace, noting, "No matter how much military power we have, if people are hungry and we do not have financial circulation and economic growth, we will not endure."
Bessent was scheduled to announce the new economic actions at 1 p.m. ET on Monday.