Can a US Bank Touch a Hormuz Toll Payment? Treasury Just Said No.
The US Treasury has stated this week that payments to Iran or the IRGC for Hormuz passage, direct or indirect, are not authorised for US persons or US banks. Walked through at desk level for tanker owners, charterers, correspondent banks, and refiners, the rule closes the dollar payer set for the current toll arrangement. The four-leg architecture of the regime is now complete from the US compliance side.