US freezes $344 mn in cryptocurrency linked to Iran

The United States has frozen $344 million in cryptocurrency assets over ties to Iran, Treasury Secretary Scott Bessent said Friday, as Washington seeks to raise pressure on Tehran amid energy supply disruptions due to war in the Middle East.

The Treasury Department “will continue to systematically degrade Tehran’s ability to generate, move, and repatriate funds,” Bessent vowed in a statement on X.

He added that his agency was imposing sanctions on “multiple wallets tied to Iran,” resulting in the freeze of funds.

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.

A US official said on condition of anonymity that Washington is targeting both typical sanctions evasion means like front companies, alongside newer technologies like digital assets.

The official added that Treasury is in active dialogue with financial institutions including digital assets exchanges.

AFP