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ARTICLE · 03 JUNE 2026

Sanctions Update: June 1, 2026

Steptoe LLP
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This comprehensive sanctions update examines the US Treasury's designation of Iran's Persian Gulf Strait Authority amid fragile ceasefire negotiations, while tracking the broader...

United StatesInternational Law
Steptoe LLP
Steptoe LLP

The Sanctions Update, compiled by attorneys from Steptoe’s award-winning International Regulatory Compliance team and the Stepwise: Risk Outlook editorial team, publishes every Monday. Guided by the knowledge of Steptoe’s industry-leading International Trade and Regulatory Compliance team, the Sanctions Update compiles and contextualizes weekly developments in international regulatory enforcement and compliance, as well as offers insights on geopolitical context, business impacts, and forthcoming risks.

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US Sanctions Persian Gulf Strait Authority, Mounting Pressure on Iran Amid a Fragile Ceasefire Agreement

On May 27, the US Office of Foreign Assets Control (OFAC) added Iran’s Persian Gulf Strait Authority (PGSA) to its Specially Designated Nationals List. The designation is part of the Treasury Department’s “Economic Fury” campaign to maximize economic pressure against Iran and entities perceived as being aligned with the regime. Reportedly linked to the Iranian

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