The U.S. Department of the Treasury has designated digital assets as a critical sector subject to secondary sanctions under Operation Economic Outcast. U.S. Treasury Secretary Scott Bessent launched the campaign, which is designed as a government-wide economic effort against the Islamic Republic of Iran and its enablers.
Under Executive Order 13902, the Treasury Department emphasized that any nation or individual, regardless of location, can face sanctions if they facilitate sanctions evasion or money laundering on behalf of Iran. Alongside digital assets, the campaign targets the technology, gold, aviation, and shipping sectors.
As part of the initial wave of actions, the Treasury sanctioned an Iranian cyber group linked to the Ministry of Intelligence and Security (MOIS) for executing crypto heists and targeting U.S. institutions and companies. The specific individuals named as threat actors include Mojtaba Ghal’eh-Kuhi, Behzad Mesri, Keyvan Fayyaz Ghareh Blagh, Saber Shahbazi Balujeh, Mohammad Reza Kadkhoda’i, and Arman Kahzadian.
Countries impacted by these measures include China, which purchases Iranian oil; Iraq and Turkey, which buy Iranian gas for power generation; as well as India and Russia. The Treasury stated that every country will receive a defined timeline to shut down identified Iran-related activities or face potential U.S. sanctions.
Previously, in May, Bessent confirmed that officials had seized nearly $1 billion in Iranian cryptocurrency funds. This included $344 million in USDT seized from two Tron addresses in April through collaboration with Tether.
