US EditionUS sanctions Iranian financiers, others over $100M in cryptocurrency transfers from Iran oil sales
The sanctions target financiers who used front companies to launder over $100 million in cryptocurrency from Iranian oil sales, supporting Iran's government and military programs.
- On Tuesday, the U.S. imposed sanctions on two Iranian financiers along with more than a dozen individuals and companies operating in Hong Kong and the UAE for their role in managing $100 million in cryptocurrency transactions linked to Iranian oil sales that supported Iran’s government and military.
- These sanctions stem from Iran’s continued evasion of measures via shadow banking networks that use front companies and cryptocurrency to bypass restrictions imposed due to its nuclear activities.
- Treasury Under Secretary John K. Hurley explained that the sanctions are grounded in a presidential directive issued by President Trump in February, aimed at eliminating Iran's oil exports and preventing financial support for its weapons development programs.
- According to Chainalysis, jurisdictions under sanctions, such as Iran, were sent $15.8 billion worth of cryptocurrency in 2024, making up roughly 39% of all illicit crypto activity globally.
- The sanctions and continued disruption efforts indicate the U.S. aim to obstruct Iran’s nuclear ambitions and malign regional activities by targeting its financial networks linked to oil sales and weaponry.
15 Articles
15 Articles
US issues fresh round of sanctions that target financing of Iran’s military
The United States has issued a fresh round Iran-related sanctions targeting individuals and entities that Washington says finance Tehran’s military, including some in Hong Kong and the United Arab Emirates, the US Treasury Department said on Tuesday. Those targeted have helped coordinate funds transfers, including from the sale of Iranian oil, that benefit Iran’s military force, the Islamic Revolutionary Guard Corp (IRGC)- Quds Force and its Min…
Crypto Sanctions Against Iranian Network Exposed
The U.S. sanctioned Iranian financiers and entities in Hong Kong and the UAE for orchestrating $100 million in cryptocurrency transactions from Iranian oil sales, funding Iran's government and military. The sanctions cut off U.S. financial access, highlighting crypto's role in bypassing sanctions.
U.S. sanctions Iranian financiers, others over $100M in cryptocurrency transfers from Iran oil sales
A pair of Iranian financiers and more than a dozen people and firms across Hong Kong and the United Arab Emirates were sanctioned Tuesday for allegedly coordinating $100 million worth of cryptocurrency transfers from the sale of Iranian oil for the benefit of Iran's government and military.
Associated Press News
US sanctions Iranian financiers, others over $100M in cryptocurrency transfers from Iran oil sales
The U.S. has sanctioned two Iranian financiers and several firms in Hong Kong and the United Arab Emirates for allegedly coordinating $100 million in cryptocurrency transfers from Iranian oil sales.
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