Iran blacklists 45 tankers in Strait of Hormuz, threatens to fine and confiscate cargo

Iran blacklisted 45 tankers that purportedly violated its protocols when transiting the Strait of Hormuz, threatening to fine the vessels or confiscate their cargo if they did so again.The Persian Gulf Strait Authority said in an X post Sunday that the ships could be fined, detained or have their cargo — including crude oil and liquified natural gas — confiscated.Other vessels assisting the blacklisted ships could also be penalized, warned Tehran’s new authority over the waterway.Some of the blacklisted ships included a United Arab Emirates’ ADNOC Logistics and Shipping vessel, ADNOC’s subsidiary Navig8 Tankers, as well as a Saudi Arabian national shipping carrier Bahri.The threats from Tehran followed Treasury Secretary Scott Bessent’s warning Friday that Iran would soon face the “toughest sanctions in history” that could “collapse the regime.”On Sunday, Bessent posted on X: “We are now entering the endgame.At dawn begins an economic D-Day — the single greatest financial offensive ever marshaled against an adversary.”The US Treasury is readying an announcement related to what entities could face secondary sanctions for still doing business with Iran, Reuters reported.Both actions are aimed at crippling Tehran’s economy, which was already experiencing heightened inflation before the war.Bessent and other Cabinet officials are hopeful the economic pressures will help bring an end to the six-month conflict with the US.Iran has promised “crushing, punishing and devastating” consequences in response to potential sanctions, claiming any other nations that support the economic penalties will be assisting in an “act of war” against Tehran.The US has maintained a naval blockade since a Memorandum of Understanding with Iran fell apart in early July, hampering Tehran’s oil exports while ships from other nations have been allowed to pass through the strait.There’ve been just 16 ships exiting the critical oil chokepoint in the past 24 ho...