US Warns Shipping Firms Of Sanctions

DUBAI, United Arab Emirates (AP) — The United States is warning shipping companies that they could face sanctions if they pay Iran to safely pass through the Strait of Hormuz. The U.S. Office of Foreign Assets Control issued the alert Friday. It adds another layer of pressure in the standoff between the U.S. and Iran over control of the Strait of Hormuz, which typically handles a fifth of the world’s oil and gas shipments in peacetime. Iran effectively closed the strait to normal traffic by attacking and threatening to attack ships after the U.S. and Israel launched a war on Feb. 28.