[Iran Warns Ships Violating Hormuz Strait Passage Rules Will Face Penalties] According to Golden Finance, on August 24, Iran's 'Persian Gulf Strait Authority' (PGSA) announced on social media that ships violating the passage arrangements established for the Hormuz Strait may face penalties, including restricted passage, fines, detention, or confiscation. PGSA is a newly established agency by Iran to manage the strait. The agency stated that cargo owners navigating in connection with the Persian Gulf should refer to an updated list of non-compliant vessels.