Iranian Foreign Ministry: "Continuing Message Exchanges with the U.S. and Activities of Mediating Countries"
Esmaeil Baghaei, Spokesperson for the Iranian Ministry of Foreign Affairs [Xinhua, Yonhap News file photo]Esmaeil Baghaei, spokesperson for the Iranian Ministry of Foreign Affairs, stated on the 26th
President Yoon: "Do You Think You Are Safe from the Special Counsel?"... Final Statement Video Released
President Yoon Suk Yeol rebuking the special prosecutor on the 24th. [Court video / @birds_justice X account subtitle GIF] A video of President Yoon Suk Yeol's closing statement at his trial rega
President Yoon, regarding the first-instance ruling on the Public Official Election Act: “An excessive political verdict that distorts the facts… We will appeal immediately.”
The first-instance sentencing hearing for President Yoon Suk Yeol regarding violations of the Public Official Election Act is being broadcast live at Seoul Station on the 27th. [Photo=Yonhap News]Pres
WSJ: "SK Hynix ADR Premium Is a Sign of AI Trading Overheat"
Advertisement for SK Hynix ADR listing in New York's Times Square [Reuters=Yonhap News file photo]The Wall Street Journal (WSJ) has pointed out that the price of SK Hynix’s American Depositary Recei
'Godfather of Japanese Mystery Novels' Keigo Higashino Passes Away After Battle with Cancer at 68
Famous Japanese mystery novelist Keigo Higashino [AFP=Yonhap News]It has been belatedly reported that Keigo Higashino, the "godfather of Japanese mystery novels" and author of bestsellers such as "The
[Park Pil-kyu Security Column] To the Ignorant Trying to Clothe a Beast in Sheep's Clothing
Rep. Kim Byung-joo of the Democratic Party of Korea [Photo=Yonhap News]“The Air Force Academy doesn't teach you how to fly a plane!” “The Army, Navy, and Air Force academies are exactly the
Ships are seen floating in the Strait of Hormuz off the coast of Oman on May 1 (local time). [Yonhap News]
The U.S. government has warned shipping companies that conduct business with Iran for safe passage through the Strait of Hormuz that they could face sanctions.
According to the Associated Press, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) issued an advisory on May 2 (local time) stating, "We are issuing this advisory to warn that there is a risk of sanctions for those who pay funds to the Iranian regime or request assurances (of not being attacked) for safe passage."
This warning, aimed at both U.S. and non-U.S. shipping companies, comes as Iran has effectively closed the Strait of Hormuz since the start of the war on February 28.
Iran is pursuing a plan to collect tolls from ships by proposing a bypass route near its coast.
OFAC specified various forms of payment that could be subject to sanctions, including not only cash but also digital assets, offset transactions, informal swaps, and in-kind payments.
The U.S. particularly emphasized that indirect payments made through embassies in respective countries or in the form of charitable donations are strictly prohibited.
Shipping companies find themselves in a difficult situation, facing the risk of severe U.S. sanctions if they pay tolls to ensure safe passage through the Strait of Hormuz without being attacked by Iranian forces.
In response to Iran's blockade of the Strait of Hormuz, the U.S. is conducting a maritime blockade to prevent the passage of ships associated with Iran.
According to U.S. Central Command, 45 merchant ships have been turned back since the counter-blockade began.
Although a ceasefire currently holds between the U.S. and Iran, the prolonged standoff over control of the Strait of Hormuz is increasing pressure on the global economy.
Based on pre-war figures, the Strait of Hormuz is a critical waterway through which approximately 20% of the world's oil and gas trade passes.
Meanwhile, China's Ambassador to the UN, Fu Cong, on this day, pointed to the "illegal war initiated by the United States and Israel" as the root cause of the situation and urged the resumption of negotiations to reopen the Strait of Hormuz.
Yonhap News More by this author