US Treasury sanctions Iran's Hormuz strait authority

WASHINGTON, May 27 (Reuters) - ‌The United ​States ​has sanctioned the Persian Gulf Strait Authority, the body Iran has set ‌up to manage the Strait of Hormuz, ⁠the Treasury Department said on Wednesday.

• The authority ‌is a body Iran ‌has set up to manage requests for passage through the Strait of Hormuz.

• Tehran's grip ​on the strait, the conduit for about a fifth of the global oil ⁠supply, has sent the world economy into turmoil.

• It closed the ​strait after the U.S. and Israel launched its war against Iran on ​February 28.

• 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.

• "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.

• 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.

(Reporting by ​Bhargav Acharya and Jasper Ward; Editing by Sonali Paul, Lincoln Feast and Raju ‌Gopalakrishnan.)

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