The US Treasury is cracking down hard on Iran’s crypto-enabled sanctions evasion, targeting over $100 million in crypto payments used to move Iranian oil. This marks a major escalation: the Treasury now can sanction any individual or entity—foreign or domestic—involved in Iran’s digital asset sector, freezing assets and restricting access to US financial systems. Recent actions include seizing nearly $1 billion from exchanges and sanctioning key players like Ukrainian broker Ivan Obukhov, who allegedly funneled oil revenue through crypto since 2023. With Iran increasingly relying on crypto to bypass restrictions, especially for powerful groups like the Revolutionary Guard, the US is sending a clear message: participating in this shadow economy carries serious consequences.
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