US announces sanctions against PGSA as part of Economic Fury campaign

The United States Department of the Treasury has imposed sanctions on Iran's Gulf Control Authority (PGSA) as part of its Economic Fury campaign.

According to Report, US Treasury Secretary Scott Bessent said in a post on X that Iran's economy and national currency are "in free fall," adding that a US maritime blockade has led to a record decline in Iranian oil shipments by sea.

"We have warned all state and corporate entities against paying fees or disguising such payments as humanitarian aid," he noted.

Washington also plans to restrict Iranian airlines' access to landings, refueling services, and ticket sales.

US officials emphasized that only a "satisfactory outcome of negotiations" could prevent further deterioration of the situation.