OFAC adds PERSIAN GULF STRAIT AUTHORITY to SDN List under EO 13224 (IRGC-linked)
US persons must block PERSIAN GULF STRAIT AUTHORITY and any entity 50%+ owned by it; non-US financial institutions and maritime operators face secondary-sanctions exposure under EO 13224 §1(b)
OFAC
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Change
On 27 May 2026, OFAC added PERSIAN GULF STRAIT AUTHORITY (PGSA) to the Specially Designated Nationals (SDN) List under Executive Order 13224 as amended by EO 13886, designated it as SDGT and IFSR with the 'Linked To: ISLAMIC REVOLUTIONARY GUARD CORPS' notation, and flagged secondary-sanctions exposure under EO 13224 §1(b).
Why it matters
Placement on the SDN List creates a blocking obligation on US-jurisdiction property of PGSA and prohibits US-person transactions with the entity. OFAC's 50% rule extends the blocking to any entity 50% or more owned by PGSA (singly or in aggregate with other blocked persons), without separate listing. The IRGC linkage notation establishes the basis of designation and routes IRGC-tier scrutiny to PGSA's counterparties, subsidiaries, and beneficial-ownership chains. The secondary-sanctions trigger under §1(b) of EO 13224 extends compliance exposure to non-US financial institutions and to non-US persons providing material support, including in the maritime sector — given PGSA's apparent role in Strait of Hormuz operations, the operative consequence reaches maritime insurers, shipping companies, charterers, P&I clubs, and trade finance teams supporting Iran-region voyages.
Implications
- — Bank sanctions-screening teams at US financial institutions must add PERSIAN GULF STRAIT AUTHORITY to SDN filters and block all transfers involving the entity or any entity 50% or more owned by it (singly or aggregated with other blocked persons) under OFAC's 50% rule — failing to block constitutes a prohibited transaction under SDN authorities and carries strict liability for the institution.
- — Sanctions compliance teams at non-US financial institutions must refuse or unwind transactions providing funds, goods, or services to PGSA or its 50%+ owned subsidiaries — §1(b) of EO 13224 carries secondary-sanctions exposure including potential loss of US correspondent banking access and SDN listing of the institution itself.
- — Maritime insurers (hull, cargo, P&I clubs), shipping companies, charterers, and ship managers with Strait of Hormuz transit or Iranian-port operations must screen vessel ownership chains, charterer parties, port-call counterparties, beneficial cargo interests, and brokerage agents for PGSA involvement — policies covering PGSA-linked voyages, vessels calling Iranian ports under PGSA jurisdiction, and cargoes routed through PGSA-controlled waters face blocking and underwriting exposure.
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