WASHINGTON – Web Desk: The United States has imposed new sanctions on Iran-linked cryptocurrency wallets and oil networks, freezing approximately $344 million in Iranian crypto assets, according to media reports.
US Treasury Secretary Scott Bessent announced the continuation of financial pressure on Iran, stating that the net would continue to tighten around Iran’s financial resources.
Media reports have alleged that Iran has been collecting “Strait of Hormuz tolls” in cryptocurrency.
Separately, the US has also imposed sanctions on a major Chinese-based oil refinery and approximately 40 shipping companies and tankers doing business with Iran.
The move follows President Trump’s threat to impose sanctions on countries and companies trading with Iran. The sanctions are part of a broader campaign to restrict Iran’s primary source of revenue — oil exports.
