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High-Purity Fact Pipeline
US Treasury
Strait of Hormuz
May 30, 2026
Verified: May 30, 2026
"The US Treasury affirmed that any payments to Iran for safe passage through the Strait of Hormuz are prohibited. Iran's newly created 'Persian Gulf Strait Authority' has been designated for sanctions. Shipping through the waterway has significantly slowed since the conflict began in February."
Author: Daniel Yergin
This definitive history of the global oil industry provides essential context on why the Strait of Hormuz is the world's most critical energy chokepoint and how control over these waters has historically dictated global economic stability and military strategy.
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