US Treasury Widens Crypto Sanctions on Iran Amid $100 Million Oil Deal

The US Treasury has expanded its sanctions on Iran's digital asset sector by adding it to Executive Order 13902, which now gives the Office of Foreign Assets Control (OFAC) authority to target companies and individuals tied to Iran's crypto industry. This move follows earlier crackdowns on Iranian exchanges such as Nobitex, Wallex, Bitpin, and Ramzinex.

OFAC has accused a UAE-based broker, Ivan Obukhov, of moving over $100 million in crypto payments since 2023, allegedly tied to oil sales connected to Iran's Revolutionary Guard Quds Force. The funds were moved through Foscom FZE, a company owned by Obukhov.

The sanctions are part of a larger sweep that targeted nearly 60 entities, individuals, and vessels across networks linked to Iran's nuclear program, missile program, cyber activity, and oil trade. Foreign banks that help sanctioned parties could lose access to US correspondent accounts.