US Slaps Cryptocurrency Sanctions on Iran, Warns Global Partners of Economic Repression
The US has imposed new sanctions on Iran, including restrictions on cryptocurrency use. The move is part of an ongoing effort to increase economic pressure on Iran, which has been tense for months.
Treasury Secretary Scott Bessent announced the new sanctions measure, known as 'Operation Economic Exclusion', which targets the country's economy and aims to sever its global ties.
The US Treasury Department has expanded sanctions against Iran to include cryptocurrency, gold, technology, aviation, and maritime sectors. The move is intended to block any options supporting Iran, with Secretary Bessent stating that countries maintaining economic ties with the Iranian regime will face strong US sanctions.
The inclusion of digital assets in the sanctions pressure is a notable aspect of the new strategy. According to the statement, Iran is using cryptocurrency platforms to circumvent sanctions and transfer funds outside the international financial system.
More than 60 individuals, entities, and vessels worldwide have been added to the new sanctions list. The US has also warned that significant sanctions could affect major financial companies linked to Iran.