US Seizes $1 Billion in Iranian Crypto, Expands Pressure Campaign
The United States has seized approximately $1 billion in cryptocurrency tied to Iran, as part of a broader campaign to cut off funding channels used by Tehran. This effort falls under Operation Economic Fury, an initiative aimed at restricting Iran’s access to overseas revenue, banking networks, and digital-asset infrastructure. The seizure is a significant blow to Iran’s economy, which has been struggling with inflation exceeding 200%. The US and its partners are also targeting overseas real estate and other assets that are proceeds diverted from the Iranian people.
The pressure campaign has contributed to worsening economic conditions in Iran, with large numbers of military personnel not being paid and police officers failing to report for duty. Iranian authorities have resorted to food vouchers and internet shutdowns to cope with the situation. The US Treasury has cracked down on Tehran’s global shadow banking networks, designated networks supplying weapons and other military components to Iran, and sanctioned a corrupt Iraqi official who has facilitated the sale of oil along with Iran-backed militias operating in Iraq.
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He also said Iranian authorities had resorted to food vouchers and internet shutdowns.
The Treasury secretary said the U.S. and its partners were also targeting overseas real estate and other assets that he described as proceeds diverted from the Iranian people.
He added that Iranian officials had previously moved hundreds of millions of dollars each month before Treasury intervention.
Read more: Iran crisis puts the regime’s $7.8 billion crypto shadow economy in spotlight
