US Targets Iran-Linked Cryptocurrency Networks with Fresh Sanctions

The United States Department of the Treasury has announced a new round of sanctions aimed at financial networks associated with Iran, including several digital asset wallets.
In a statement, Treasury Secretary Scott Bessent confirmed that the Office of Foreign Assets Control (OFAC) had sanctioned multiple cryptocurrency wallets linked to Iran, resulting in the freezing of approximately $344 million in digital assets. He emphasized that US authorities are intensifying efforts to track and disrupt funds that Tehran is attempting to move خارج its borders, vowing to target all financial channels connected to the Iranian government.

Earlier measures also included sanctions related to Iran and the issuance of a general license allowing the wind-down of transactions involving the Chinese firm Hengli Petrochemical (Dalian) Refinery Co..

According to State Department spokesperson Tommy Pigott, the latest actions form part of a broader strategy by Washington to curb what it describes as Iran’s illicit oil trade. His remarks followed additional sanctions imposed on a major independent Chinese refinery along with nearly 40 other entities.

Pigott stated that the measures are intended to cut off revenue streams that the US believes fund Iran’s destabilizing activities across the Middle East. He added that the administration’s ongoing “maximum pressure” campaign seeks to hold Tehran accountable for its regional actions and perceived threats to American interests.