US Treasury Targets Iran's Digital Asset Ties in Economic Outcast Operation

The US Treasury has launched Operation Economic Outcast, an aggressive campaign to cripple Iran's economy by severing its digital asset ties. The operation targets nations and individuals doing business with the Iranian government, particularly in the digital assets sector.

The Treasury is sanctioning a cyber group of Iran's Ministry of Intelligence and Security (MOIS) that has perpetrated crypto heists, including targeting US institutions and companies. The sanctioned entities include Mojtaba Ghal'eh-Kuhi, Behzad Mesri, Keyvan Fayyaz Ghareh Blagh, Saber Shahbazi Balujeh, Mohammad Reza Kadkhoda'i, and Arman Kahzadian.

The countries most affected by these sanctions are China, which purchases Iranian oil; Iraq and Turkey, which purchase Iranian gas for power generation; India, Russia, and others. Treasury Secretary Scott Bessent warned that any entity facilitating money laundering or sanctions evasion on behalf of Iran risks being cut off from the US financial system.