US Targets Iran Crypto Sector Over $100M Oil Payments
The move gives the Office of Foreign Assets Control broader authority to target foreign firms and individuals tied to Iran’s crypto economy, officials said.
- On Monday, the U.S. Treasury expanded sanctions to cover Iran's digital asset sector, granting the Office of Foreign Assets Control authority to target foreign entities supporting the country's cryptocurrency industry.
- Treasury allegations against UAE-based broker Ivan Obukhov prompted the move, citing his processing of more than $100 million in cryptocurrency payments since 2023 to facilitate oil sales for the Islamic Revolutionary Guard Corps-Quds Force.
- Accompanying measures target nearly 60 entities, individuals, and vessels across Iran-linked nuclear, missile, cyber, and oil networks, with the Treasury stating the determination "significantly expands" its sanctioning ability.
- The action, part of a wider campaign titled Operation Economic Outcast, builds on previous designations of exchanges like Shelbit and Aban Tether, accused of facilitating transactions involving restricted Iranian platforms.
- Participation in Iran's digital asset sector now serves as a legal basis for future sanctions, requiring crypto exchanges and compliance providers to monitor OFAC designations and ownership structures more closely.
15 Articles
15 Articles
REALITY CHECK | Crypto is a ‘Tool of Choice for Sanctions Evasion’ for Iran, Says U.S Treasury
The U.S. Treasury has expanded its Iran sanctions campaign to the country’s digital-asset sector saying cryptocurrency has increasingly become a tool of choice for Tehran and its networks to evade sanctions and move oil revenues. Dubbed ‘Operation Economic Outcast,’ the goal is to ‘sever the economic lifelines that sustain the Iranian regime and the Islamic Revolutionary Guard Corps (IRGC)’ through ‘a sustained and systematic campaign to close e…
Treasury Targets Iran Crypto Sector and $100M Oil Payment Network
The Treasury has opened Iran’s digital asset sector to broader sanctions while targeting a broker accused of processing over $100 million in cryptocurrency for oil sales supporting Iran’s military and its proxies. OFAC Opens Iran’s Digital Asset Sector to Sanctions Foreign crypto businesses now face broader sanctions exposure when dealing with Iran-linked counterparties following the […]
US Treasury Names Crypto Processor In Iran Sanctions Sweep
The US Treasury has put a name and a dollar figure on the digital-asset plumbing behind Iranian oil sales. Ivan Obukhov allegedly processed more than $100 million in crypto for IRGC-QF oil sales since 2023, according to the original report. The designation lands as Washington expands the crackdown beyond crypto to gold, shipping, and technology networks. The action targets an operational role, not just a wallet. By naming Obukhov, Treasury is tr…
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
