US freezes $344 million in Iran-linked cryptocurrency amid energy supply disruptions: Bessent
&imwidth=600&imheight=450&format=webp&quality=medium "US freezes $344 million in Iran-linked cryptocurrency amid energy supply disruptions: Bessent")
Scott Bessent with Donald Trump Photograph: (AFP)
US freezes $344 million in crypto tied to Iran, expands sanctions on oil trade as tensions rise, and new diplomatic talks are set to begin
The United States has frozen $344 million in cryptocurrency assets linked to Iran, Treasury Secretary Scott Bessent said on Friday (April 24), as Washington intensifies pressure on Tehran amid energy supply disruptions tied to conflict 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 the department imposed sanctions on "multiple wallets tied to Iran," leading to the freeze of funds. The move comes as US envoys Steve Witkoff and Jared Kushner are set to travel to Pakistan on Saturday for a new round of talks with Iran aimed at ending the conflict.
US tightens pressure on Iran, sanctions Chinese oil refinery and 40 shipping companies
Meanwhile, President Donald Trump’s administration has imposed economic sanctions on a major China-based oil refinery, along with around 40 shipping companies and tankers accused of transporting Iranian oil. The move, announced on Friday and first reported by news agency The Associated Press, follows through on Trump’s warning to apply secondary sanctions on entities conducting business with Iran. It forms part of a broader campaign to curb Tehran’s primary revenue stream, its oil exports.
At the same time, the US has enforced a physical blockade on the Strait of Hormuz, a critical route for global energy supplies. These sanctions, which sever access to the US financial system and penalize those engaging with the targeted entities, come weeks before a planned meeting between Trump and Xi Jinping in China.
Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations, and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos, and videos.
