U.S. Treasury Targets Iran's Crypto Access and Shadow Banking Infrastructure

Gate News message, April 29 — U.S. Treasury Secretary Scott Bessent announced that the department has taken action against Iran's international shadow banking infrastructure, cryptocurrency access channels, shadow fleet, weapons procurement networks, and terrorist proxy funding. According to reports, approximately $344 million in related crypto assets have been frozen.

Under maximum pressure from the U.S. administration, Iran's inflation rate has doubled and its currency has rapidly depreciated. The Kharg Island oil terminal, Iran's main export hub, is nearing storage capacity, forcing the regime to reduce oil output. This results in approximately $170 million in additional daily revenue losses and permanent damage to Iran's oil infrastructure.

The Treasury Department will continue applying maximum pressure, warning that any individuals, vessels, or entities facilitating illegal transactions for Tehran face U.S. sanctions.