Treasury Secretary Scott Bessent announced on Friday that the United States has blocked $344 million in cryptocurrency assets owing to ties to Iran, as Washington aims to increase pressure on Tehran amid problems in the Middle East’s energy supply.
Bessent promised in a statement on X that the Treasury Department “will continue to systematically degrade Tehran’s ability to generate, move, and repatriate funds.”
He went on to say that his organization was putting sanctions on “multiple wallets tied to Iran,” which led to the money freezing.
The move comes as US envoys Steve Witkoff and Jared Kushner are headed Saturday to Pakistan for a new round of talks with Iran on ending the conflict.
The war started after US-Israeli strikes targeting Iran on February 28, in which senior figures including supreme leader Ali Khamenei were killed.
Washington is focusing on both more modern technology like digital assets and more conventional sanctions evasion strategies like front businesses, according to a US official speaking on condition of anonymity.
Treasury is actively communicating with financial institutions, including digital asset exchanges, the spokesman continued.
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