Strait of Hormuz: US threatens shipping firms with sanctions if they pay Iran tolls

The warning comes as President Donald Trump said he was "not excited" by Iran's latest proposal for a peace deal.

Watch LiveBritish Broadcasting CorporationHomeNewsSportBusinessTechnologyHealthCultureArtsTravelEarthAudioVideoLiveDocumentariesHomeNewsUS & CanadaUKUK PoliticsEnglandN. IrelandN. Ireland PoliticsScotlandScotland PoliticsWalesWales PoliticsAfricaAsiaChinaIndiaAustraliaEuropeLatin AmericaMiddle EastIn PicturesBBC InDepthBBC VerifySportBusinessWorld of BusinessTechnology of BusinessNYSE Opening BellTechnologyWatch DocumentariesArtificial IntelligenceIntelligence RevolutionAI v the MindTech NowHealthWatch DocumentariesCultureWatch DocumentariesFilm & TVMusicArt & DesignStyleBooksEntertainment NewsArtsWatch DocumentariesArts in MotionTravelWatch DocumentariesDestinationsAfricaAntarcticaAsiaAustralia and PacificCaribbean & BermudaCentral AmericaEuropeMiddle EastNorth AmericaSouth AmericaWorld’s TableCulture & ExperiencesAdventuresThe SpeciaListEarthWatch DocumentariesScienceNatural WondersClimate SolutionsSustainable BusinessGreen LivingAudioPodcast CategoriesRadioAudio FAQsVideoWatch DocumentariesBBC MaestroDiscover the WorldLiveLive NewsLive SportDocumentariesHomeNewsSportBusinessTechnologyHealthCultureArtsTravelEarthAudioVideoLiveDocumentariesWeatherNewslettersWatch LiveUS threatens shipping firms with sanctions if they pay Iran tolls28 minutes agoShareSaveAdd as preferred on GoogleTinshui YeungReutersThe number of vessels passing through the Strait of Hormuz has dropped sharply, with only a handful making the journey each dayThe US has warned shipping companies they could face sanctions if they pay Iran for safe passage through the Strait of Hormuz.

An alert on Friday by the US Office of Foreign Assets Control (OFAC) warned US persons and companies were generally banned from paying Iranian government entities, and non-US persons may risk exposure to sanctions if they pay.

"Maritime industry participants involved with vessels calling at Iranian ports face significant sanctions risk under multiple sanctions authorities targeting Iran's shipping sector and ports", OFAC said.

Iran has severely limited traffic through the strait since the war began in February. The US has also enforced a naval blockade on Iranian ports.

Iran has called the US interception of ships entering and leaving Iranian ports under the blockade "piracy".