US targets Iran with new sanctions on crypto, gold, and shipping

US expands sanctions to cripple Iran’s economy

The United States has announced new sanctions targeting Iran’s revenue sources, including digital assets, gold, aviation, and shipping. Treasury Secretary Scott Bessent described the move as an "economic D-Day" during a press conference on Monday.

The sanctions aim to broaden secondary sanctions risk, meaning any individual or business continuing to engage with Iran could face penalties. The measures are part of an ongoing effort to pressure Iran amid a conflict that began last year.

Key details of the sanctions

• The US Treasury, State Department, and military are meeting with global stakeholders to enforce the sanctions.
• Each country has been given a defined timeline to halt activities linked to Iran’s revenue streams.
• Digital asset addresses tied to individuals, including Arman Kahzadian, were included in the sanctions.
• In June, Iran’s largest crypto exchange, Nobitex, was sanctioned for alleged sanctions evasion and terrorist financing.
• The US has seized nearly $1 billion in crypto from Iran as of May.

What the Treasury Secretary said

Treasury Secretary Scott Bessent stated, "These measures broaden secondary sanctions risk for anyone foolish enough to continue conducting business with this regime—and accelerate the speed with which we pursue them."

Bessent emphasized that the sanctions are designed to cut off Iran’s access to funding through digital assets, technology, aviation, gold, and shipping.

What is confirmed

• The US has imposed new sanctions on Iran targeting digital assets, gold, aviation, and shipping.
• Secondary sanctions risk applies to any entity continuing business with Iran.
• Specific digital asset addresses and individuals, including Arman Kahzadian, are now under sanctions.
• The US has previously sanctioned Nobitex and seized nearly $1 billion in crypto from Iran.

What remains unclear

• The exact timeline given to countries to comply with the sanctions has not been disclosed.
• No details were provided on how the sanctions will be enforced globally.
• It is unclear how Iran may respond to these measures.

Why these sanctions matter

The sanctions are part of a broader effort to weaken Iran’s economy by cutting off key revenue sources. Digital assets, in particular, have been identified as a tool for evading sanctions and financing activities linked to Iran’s Islamic Revolutionary Guard Corps. By targeting these areas, the US aims to limit Iran’s ability to fund its operations.

What happens next

The Treasury, State Department, and military are engaging with global stakeholders to enforce the sanctions. Countries have been given a timeline to shut down activities linked to Iran’s revenue streams, though the specifics of this timeline were not provided.

Sources

• The Block