00:00The U.S. Treasury just hit Iran with new sanctions over what officials are calling a maritime extortion scheme.
00:07Treasury designated Iran's newly created Persian Gulf Strait Authority as a sanctioned entity,
00:13accusing the IRGC of using it to monetize a campaign of state-sponsored terror
00:18against commercial vessels in the Strait of Hormuz.
00:22The timing matters.
00:24U.S. Central Command says it has already redirected 94 commercial vessels.
00:28And disabled four others while enforcing a blockade meant to choke off Iranian port traffic.
00:35Iran's position is simple.
00:37Ships need IRGC coordination to pass safely through the Strait or face consequences.
00:43The State Department has flatly rejected that demand, calling it incompatible with any lasting diplomatic deal.
00:50With both sides digging in over who actually controls this critical waterway.
00:55The standoff over Hormuz shows no signs of cooling down.
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