Hassan Maishera
TL;DR
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The US Treasury is expanding sanctions against Iran to target digital assets, technology, aviation, gold, and shipping.
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Treasury Secretary Scott Bessent described the campaign as an “economic D-Day” and warned that foreign businesses could face secondary sanctions.
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US officials are giving countries specific deadlines to halt activities linked to Iran’s identified revenue sources.
US Treasury Expands Sanctions to Target Iranian Crypto Activity
The US Treasury Department is increasing its focus on digital assets as part of a broader campaign to restrict Iran’s access to revenue and international financial networks.
Speaking at a press conference Monday, Treasury Secretary Scott Bessent outlined new secondary sanctions targeting businesses and individuals that support Iran’s economy.
The measures cover digital assets alongside technology, aviation, gold, and shipping.
Bessent described the effort as an “economic D-Day,” signaling a more aggressive push to cut off financial channels available to the Iranian government.
“These measures broaden secondary sanctions risk for anyone foolish enough to continue conducting business with this regime—and accelerate the speed with which we pursue them,” Bessent said.
Secondary sanctions can affect businesses, financial institutions, and individuals outside the United States that continue engaging in targeted activities involving Iran.
The new measures increase potential risks for international companies operating in sectors identified by the Treasury Department.
Bessent said the Treasury, State Department, and US military are meeting with stakeholders around the world to coordinate the campaign.
He added that each country has been given a defined timeline to end activities identified by US officials.
The administration did not provide further details about the deadlines or explain which countries are directly affected.
Crypto Becomes Central to Sanctions Enforcement
The inclusion of digital assets reflects growing US concern that cryptocurrency can be used to move funds across borders and bypass restrictions on conventional banking channels.
Iran has previously faced extensive sanctions targeting oil exports, shipping, and access to global financial services.
US officials now appear to be increasing scrutiny of cryptocurrency platforms, wallet addresses, and other digital asset infrastructure that could support sanctions evasion.
The latest action adds digital asset activity to the wider list of sectors the administration considers important to Iran’s economic operations.
In June, the US government sanctioned Nobitex, Iran’s largest cryptocurrency exchange.
Authorities alleged that the platform played a significant role in sanctions evasion, terrorist financing, and transactions linked to Iran’s Islamic Revolutionary Guard Corps.
The action demonstrated how regulators are increasingly targeting cryptocurrency exchanges accused of facilitating restricted transactions.
Nobitex became one of the most prominent examples of a digital asset company directly affected by the US campaign against Iran’s financial networks.
Bessent previously said the United States had seized nearly $1 billion in cryptocurrency linked to Iran as of May.
The seizures reflect the scale of US enforcement efforts aimed at disrupting digital asset transactions associated with Iranian entities.
However, the Treasury has not detailed in the provided announcement how the seized assets were distributed across specific cases or individuals.
The latest sanctions suggest additional wallet monitoring and enforcement actions could follow.
New Sanctions Include Bitcoin Wallet Addresses
Monday’s measures also identified several digital asset addresses tied to individuals under Treasury scrutiny.
Among them were addresses associated with Arman Kahzadian. The Treasury said Kahzadian gained control of a wallet containing more than $30,000 worth of Bitcoin in 2023.
Including cryptocurrency addresses in sanctions designations can help exchanges, financial institutions, and blockchain analytics firms identify transactions involving restricted entities.
The announcement did not disclose the full value of assets associated with all newly designated addresses.
The expanded sanctions come amid an ongoing conflict between the United States and Iran that began last year.
Initial strikes in that conflict killed Iran’s Supreme Leader Ayatollah Ali Khamenei, according to the source report.
Washington has since imposed multiple sanctions aimed at reducing Iran’s oil revenue, limiting shipping activity, and restricting access to international financial markets.
The latest measures broaden that campaign to include digital assets and other sectors the Treasury considers relevant to Iran’s remaining sources of revenue.
