Iran’s Persian Gulf Strait Administration (PGSA) said on social media that vessels breaching its transit arrangements for the Strait of Hormuz may face penalties including restricted passage, fines, detention or confiscation. The PGSA, a newly established agency to manage the strait, told shipowners to consult an updated list of non-compliant vessels when planning Persian Gulf sailings.

{"title":"US sanctions on Iran — four-decade toolkit and what new measures Bessent could unveil","content":"High-probability near-term measures: expansion of secondary sanctions — US signals it will target non‑US firms and countries that continue business with Iran, with particular focus on India, Gulf states and other trading partners. Oil‑sector escalation: sanctions could extend to downstream buyers, foreign refineries, shipowners, insurers, vessel managers and correspondent banks that facilitate Iranian crude, plus wider measures against the “shadow fleet.” Financial squeeze: measures may target Iran’s shadow‑banking and non‑dollar payment channels — including foreign banks, non‑bank financials, FX dealers, gold trading, crypto and offshore accounts — to sever funding routes. Third‑party targeting: increased sanctions on foreign trade partners, banks, shipping and aviation firms that assist sanctions evasion. Context — precedent and scope: US measures since 1979 have included asset freezes (1979), designation as a state sponsor of terrorism (1980s), bans on US firms dealing with Iran (1990s), statutory secondary sanctions on foreign energy investment (Iran Sanctions Act, 1996), nuclear‑era sanctions targeting enrichment, missiles and related materials (2000s), a broad financial squeeze on Iran’s banking system and oil receipts (2010–2011), sectoral expansions to oil, petrochemicals, shipping, insurance, precious metals, autos, mining and finance (2012–2015), and designation of the Islamic Revolutionary Guard Corps as a foreign terrorist organization (2019)."}

Nikkei Asia reports Japan will provide $125m via a public-private partnership fund to support nuclear fusion and recycling startups.