May 2, 2026 — The US government issued a stark warning to international shipping companies on Friday: pay tolls to Iran for passage through the Strait of Hormuz, and face American sanctions. The threat marks a further escalation in US-Iran tensions.

According to BBC reports, the US Secretary of State stated in a declaration that any shipping company paying “tolls” or similar fees to the Iranian regime could be placed on a sanctions list. The Strait of Hormuz is one of the world's most critical oil transit routes, with approximately one-fifth of global oil supplies passing through it.

Meanwhile, President Donald Trump expressed dissatisfaction with Iran's latest peace proposal. CBS News live updates showed Trump saying he was “not excited” by Iran's new offer, suggesting the proposal falls short of Washington's core demands.

Hormuz Strait Tensions Escalate

Iran has been attempting to pressure the international community by imposing “tolls” on vessels transiting the Strait of Hormuz. The move has drawn strong opposition from the US and its allies, who consider it a violation of international law.

A statement from the US Treasury noted that paying such fees to Iran equates to funding Iranian military activities. The White House National Security Council said the US would “take all necessary measures” to protect freedom of international navigation.

Impact on Global Shipping

Shipping industry analysts warn that the US sanctions threat could have ripple effects across global supply chains. Major shipping companies including Maersk, Mediterranean Shipping Company (MSC), and COSCO all rely on the Strait of Hormuz for energy transport.

“This puts shipping companies in a difficult position,” said a maritime lawyer who wished to remain anonymous. “They risk either violating Iranian regulations or facing US sanctions.”

Background on Iran Situation

The Iran war has now reached the 60-day mark, with congressional debate over war authorization intensifying. Trump wrote to Congress stating that, due to a ceasefire agreement, hostilities with Iran have “terminated” and thus do not require congressional authorization. However, this claim has been questioned by lawmakers from both parties.

The New York Times reported that as the Iran war enters its 60th day, Republican frustration with Trump is growing in Congress.

Source: BBC, CBS News, The New York Times

The US Treasury issued a notice on Friday warning that any individual or company paying Iran a “toll” for passage through the Strait of Hormuz would be at risk of violating US sanctions. The move further escalates geopolitical tensions surrounding the critical shipping channel.

Background: Ongoing Strait Blockade

The Strait of Hormuz, one of the world’s most important oil transit chokepoints, remains effectively closed. Since the US-Iran conflict began, the security of passage through the strait has been severely threatened, causing sustained turbulence in global energy markets.

Iran has reportedly attempted to charge “tolls” for vessels transiting the strait, a move the US views as a direct challenge to its sanctions regime.

Impact of the Treasury Notice

The Treasury’s warning means that any financial transaction with Iran related to strait passage could be deemed a violation of existing sanctions. This will further increase operational risks and compliance costs for international shipping companies in the region.

For global energy markets, the warning carries significant implications:

• Shipping companies may face stricter compliance scrutiny
• Insurance costs are expected to climb further
• Development and use of alternative routes will accelerate

Global Supply Chain Disruptions

The continued closure of the Strait of Hormuz has already produced ripple effects across the global economy. Sustained oil price increases have pushed up energy costs, which in turn flow through to food and manufacturing sectors.

The Bank of England held interest rates this week but made clear that due to the “uncertainty and severity” brought by the Iran war, rate hikes could come later this year. In the most adverse scenario — with oil above $120 a barrel for the rest of the year — the UK could face up to six rate increases.

Ceasefire Negotiations in Limbo

Meanwhile, ceasefire negotiations between Iran and the US remain stalled. Iran sent a new proposal to the US via Pakistani intermediaries, though the details have not been made public. Trump expressed dissatisfaction, stating that Iran is “not coming through with the kind of deal that we have to have.”

Trump told reporters: “We just had a conversation with Iran. Let’s see what happens. But, I would say that I am not happy.”

Outlook

Analysts note that unless the US and Iran can reach a comprehensive agreement on strait passage and nuclear issues, global energy markets and the broader economy will continue to face uncertainty. The Treasury’s latest warning signals that the US government is intensifying economic pressure on Iran through multiple channels.

Source: BBC News

The Background

On April 29, 2026, six nations — the United States, Bolivia, Costa Rica, Guyana, Paraguay, and Trinidad and Tobago — released a joint statement strongly criticizing China’s “targeted economic pressure” on Panama. The dispute stems from Panama’s Supreme Court ruling in late January that annulled contracts allowing a subsidiary of Hong Kong-based CK Hutchison to operate the Balboa and Cristóbal port terminals on the Panama Canal, deeming the decades-old agreements unconstitutional.

Ship Detentions Surpass Historical Norms

According to the US Federal Maritime Commission (FMC), China detained nearly 70 Panamanian-flagged ships in March — a figure “far exceeding historical norms.” In their joint statement, the six countries declared: “These actions — following the decision of Panama’s independent Supreme Court regarding the Balboa and Cristóbal terminals — are a blatant attempt to politicise maritime trade and infringe on the sovereignty of the nations of our hemisphere.”

US Response

US Secretary of State Marco Rubio separately stated on X that Washington was “deeply concerned” by China’s economic pressure on Panama. “We stand in solidarity with Panama. Any attempts to undermine Panama’s sovereignty are a threat to us all,” he said.

China has previously accused the US of “bullying” and attempting to smear its reputation in Latin America, while describing the Panamanian Supreme Court ruling as “absurd” and “shameful.”

Impact on Global Shipping

US Federal Maritime Commission head Laura DiBella warned last month that Beijing’s detention of Panamanian ships carried significant repercussions for both Panama and the United States. “These intensified inspections were carried out under informal directives and appear intended to punish Panama after the transfer of Hutchison’s port assets,” DiBella said.

She further cautioned: “Given that Panama-flagged ships carry a meaningful share of US containerised trade, these actions could result in significant commercial and strategic consequences to US shipping.”

Geopolitical Implications

The six-nation joint statement marks an escalation of the Panama Canal dispute from a bilateral friction point to a multilateral diplomatic confrontation. China has expanded its economic and infrastructure influence across Latin America through its Belt and Road Initiative in recent years, while the US has refocused on the region, intensifying diplomatic and security engagement in what it traditionally considers its sphere of influence.

Analysts note that control of the Panama Canal — a critical shipping artery connecting the Pacific and Atlantic Oceans — involves not just commercial interests but also broader strategic competition among major powers in the Western Hemisphere. With tensions in the Strait of Hormuz persisting, the contest for global shipping routes and port control is becoming increasingly acute.

Source: Al Jazeera