<p>The United States on Wednesday designated the Persian Gulf Marine Insurance Company and Hormuz Safe Marine Services Authority, two Iranian entities backed by the Islamic Revolutionary Guard Corps (IRGC), over what it said were coercive “insurance” schemes targeting international shipping transiting the Strait of Hormuz.</p><p>The US Department of State said the entities create risks, including threats of vessel seizures, and charge commercial vessels for protection from dangers attributed to the Iranian regime. The US also designated eight companies operating vessels that transported illicit Iranian crude oil and petrochemical products to China and the United Arab Emirates, describing them as part of Iran’s “shadow fleet” used to evade sanctions.</p><p>The State Department said the designations support enforcement efforts against Iranian ports and coastline and bring the number of vessels sanctioned this year to more than 100. The United States said it will continue efforts to hold Iran accountable for actions involving international waterways, sanctions evasion, and regional destabilizing activities.</p> | Read More in News from Israel