Commodities
US Seeks to Confiscate $61 Million of Iranian Oil Revenue Through Chinese Crypto Network
The US Justice Department has filed a lawsuit to seize $61 million in revenue from Iran's oil sales, alleging that Iran laundered $1.5 billion through a cryptocurrency network based in China.
The US claims that this network was used to facilitate the laundering of Iranian oil revenues, which are subject to sanctions. No further details on the network or its operations were provided.
The move is seen as a hostile act against Iran, with the country's oil sales already under heavy scrutiny due to international sanctions.