The Strait of Hormuz, through which about a fifth of global oil and natural gas trade usually passes in peacetime, has been heavily disrupted. Iran has effectively banned normal traffic after the attacks launched by the US and Israel on February 28, attacking and threatening ships.Iran later began offering safe passage by sending some ships close to its coastline and charging a fee for the service. The US described the system as a “tollbooth” arrangement and said payments are now the focus of its sanctions warning.The Office of Foreign Assets Control said payment demands could include cash, digital assets, offsets, informal swaps, in-kind payments, charitable donations or payments into Iranian embassies. It said, “OFAC is issuing this alert to warn U.S. and non-U.S. persons about the sanctions risks when making these payments to, or seeking guarantees from, the Iranian regime for safe passage. These risks exist regardless of the payment method.”In response to Iran’s actions, the US imposed a naval blockade on April 13, blocking Iranian tankers from passage and cutting off oil revenues. US Central Command said 45 commercial vessels had been ordered to turn back since the blockade began.The surge has further strained global energy markets, driving up prices and creating shortages linked to oil supply routes passing through the region.Amid continuing tensions, US President Donald Trump also rejected Iran’s latest proposal to end the conflict.“They want to make a deal, I’m not satisfied with it, so we’ll see what happens,” Trump said at the White House on Friday. He also said, “This is a very disjointed leadership,” adding, “They all want to make a deal, but they’re all a mess.”Iran’s state-run IRNA news agency reported that the proposal was presented to mediators in Pakistan on Thursday night. Talks continue between the two sides through indirect channels, even as both accuse each other of violating the fragile ceasefire.