US Sanctions Iranians for $100M+ Illicit Oil Sales Using Cryptocurrency

The US Treasury Department has imposed sanctions on a network of Iranian individuals and entities for their involvement in facilitating the illicit sale of over $100 million worth of oil, using cryptocurrency to evade international sanctions. The United States accuses these individuals and entities of acting on behalf of the Islamic Revolutionary Guard Corps (IRGC) and its Quds Force by organizing oil shipments and concealing their true origin. These sanctions aim to disrupt Iran’s ability to finance its destabilizing activities in the region by cutting off its access to the global financial system. The sanctions include freezing any assets held by these individuals and entities in the United States, as well as prohibiting any US citizen from engaging in transactions with them. This move is part of a broader US campaign to pressure Iran over its nuclear program and its support for armed groups in the region. The Treasury Department emphasizes that it will continue to use all available tools to disrupt Iran’s efforts to evade sanctions and undermine regional security.