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US Threatens Sanctions on Shipping Firms Paying Iran Strait of Hormuz Tolls
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Politics·5/4/2026AI summary

US Threatens Sanctions on Shipping Firms Paying Iran Strait of Hormuz Tolls

The US has threatened sanctions against shipping companies paying Iran tolls to transit the Strait of Hormuz, which has been effectively closed following US and Israeli strikes on Iran starting in late February. Traffic is now restricted to an IRGC-controlled corridor where vessels pay $1 million to $2 million in fees, with at least two ships paying in yuan. As approximately 2,000 ships and 20,000 seafarers remain stranded, President Trump announced Project Freedom—a humanitarian initiative involving 15,000 personnel, guided-missile destroyers, and over 100 aircraft—to assist neutral vessels.

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