The United States government has announced a significant expansion of sanctions against Iran, focusing on its oil trade and cryptocurrency operations as part of ongoing efforts to disrupt illicit financial networks supporting the Iranian regime.
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned multiple digital asset wallets linked to Iran’s Central Bank, freezing over $130 million in cryptocurrency assets, including approximately $131 million in USDT on the Tron blockchain. These actions target entities connected to the Islamic Revolutionary Guard Corps (IRGC) and other networks involved in evading existing sanctions.
This latest round of measures aims to curb Iran’s use of cryptocurrency to circumvent international sanctions, particularly in facilitating oil exports and funding destabilizing activities in the region. The sanctions also reinforce restrictions on the Iranian oil sector, a key revenue source for the regime.
Treasury Secretary Scott Bessent stated: “These sanctions send a clear message that the United States will not tolerate Iran’s attempts to exploit digital assets and global energy markets to support terrorism, regional aggression, and nuclear ambitions. We will continue to work with allies to close loopholes and enforce accountability.”
The expanded sanctions prohibit U.S. persons from engaging in transactions with the designated entities and wallets, and they warn foreign partners of potential secondary sanctions for continued dealings with Iran’s sanctioned oil and crypto channels.
This development comes amid heightened international scrutiny of Iran’s financial practices and is expected to further isolate the country’s economy while strengthening global efforts to combat money laundering and proliferation financing through emerging technologies like cryptocurrency.
The U.S. government continues to encourage private sector vigilance and urges financial institutions worldwide to exercise enhanced due diligence regarding Iranian-linked transactions.