US Cracks Down on Iran-Linked Digital Assets, Airlines, Shipping
The US Treasury is expanding its sanctions apparatus to choke off Iran's financial lifelines, targeting airlines, shipping companies, and digital assets linked to the country.
Treasury Secretary Scott Bessent warned that the US is going after anyone who provides support or services in the targeted sectors, including fuel suppliers, maintenance crews, and leasing companies for Iranian carriers like Mahan Air and IranAir.
The Treasury's initiative, 'Operation Economic Outcast,' gives the Office of Foreign Assets Control new authority to go after individuals and entities involved in digital assets, aviation, shipping, technology, and gold tied to the Iranian regime.
Bessent highlighted that the US has already seized approximately $1 billion in Iranian-linked digital assets, a figure that underscores the significance of crypto as a sanctions-evasion tool for Iran.