Summary The US freezes $34.4M in Iranian crypto and sanctions Chinese oil refinery plus 40 shipping firms, targeting Iran’s finances and oil exports amid ongoing pressure.
(Web Desk) – The United States has imposed new sanctions targeting Iranian-linked cryptocurrency wallets and parts of the country’s oil network.
Reports indicated that the sanctions have frozen $34.4 million in cryptocurrency held by Iran.
US Treasury Secretary Scott Bessent stated that the financial pressure on Iran will continue, signaling tighter restrictions on the country’s financial resources. Media reports suggested that Iran has been attempting to collect payments through the Strait of Hormuz using cryptocurrency.
In addition, the US has sanctioned a major Chinese oil refinery conducting business with Iran, along with nearly 40 shipping companies and oil tankers.
The measures followed threats by US President Donald Trump to penalize countries and companies conducting business with Iran.
