The United States Department of the Treasury has unveiled a fresh wave of sanctions aimed at dismantling financial networks linked to Iran, with a particular focus on cryptocurrency channels.
According to Treasury Secretary Scott Bessent, authorities have targeted multiple digital wallets associated with Iran, leading to the freezing of approximately $344 million in cryptocurrency assets. The move underscores Washington’s growing emphasis on tracking and disrupting digital financial flows used to bypass traditional sanctions.
Bessent stressed that the US will continue to trace funds allegedly being moved out of Iran, vowing to cut off all financial lifelines connected to the country’s leadership. The action reflects an intensified strategy to monitor and control emerging financial technologies in global sanctions enforcement.
In parallel, the Treasury imposed additional restrictions tied to Iran and issued a general license allowing the gradual termination of business dealings involving Hengli Petrochemical (Dalian) Refinery Co..
Meanwhile, the United States Department of State indicated that these measures are part of a broader campaign to curb what it describes as Iran’s illicit oil trade. The latest round of sanctions also targets a major independent Chinese refinery along with nearly 40 other entities.
Officials emphasized that the crackdown aims to disrupt revenue streams allegedly funding destabilizing activities across the Middle East, reinforcing the administration’s “maximum pressure” approach toward Tehran.
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