US Imposes 35 New Sanctions on Iran in Operation Economic Fury, Focusing on Crypto
The U.S. Treasury Department, under Secretary Scott Bessent, has increased its “maximum pressure” campaign...
Quick overview
- The U.S. Treasury Department has intensified its sanctions against Iran through Operation Economic Fury, targeting 35 entities involved in shadow banking.
- The sanctions focus on networks facilitating illegal financial activities, including oil trading and funding for groups like the IRGC.
- Recent actions emphasize the traceability of blockchain transactions and the collaboration between stablecoin issuers and U.S. authorities.
- The U.S. is expected to continue enforcing stringent financial strategies, impacting the crypto market amid ongoing geopolitical tensions.
The U.S. Treasury Department, under Secretary Scott Bessent, has increased its “maximum pressure” campaign on Iran through Operation Economic Fury. On April 29, 2026, the department announced new sanctions against 35 entities and individuals involved in Iran’s shadow banking networks, which are used for sanctions evasion, illegal oil trading, weapons purchases, and funding groups like the IRGC.
US TARGETS IRAN CRYPTO AND SHADOW BANKING NETWORKS
US Treasury Secretary Scott Bessent says Washington is escalating pressure on Iran’s financial system, per WSJ.
The crackdown targets shadow banking, crypto access, and oil trade networks. Officials claim these actions have… pic.twitter.com/oGSNF6EQ71
— BSCN (@BSCNews) April 29, 2026
Key Actions
- The sanctions target “rahbar” networks that move tens of billions of dollars in illegal funds through shell companies and intermediaries.
- There is an ongoing focus on crypto channels, following the recent freeze of $344 million in USDT from two Tron wallets connected to Iranian operations.
- Other targets include shadow fleet tankers, Chinese refineries that process Iranian oil, and financial facilitators who now face the risk of secondary sanctions.
Bessent said the shadow banking system is a “critical financial lifeline” for Iran’s armed forces and terrorist activities, and promised to cut off these revenue streams.
Implications for CryptoThis move highlights how blockchain transactions, especially on Tron, can be traced and shows that stablecoin issuers are working with U.S. authorities. Although there was no major market disruption, the action emphasizes the need for compliance in high-risk areas and supports ongoing discussions about stablecoin regulations.stablecoins.
The move comes amid fragile ceasefires and geopolitical tensions, using economic tools as the “financial equivalent of bombs.” Iran has leaned heavily on crypto and shadow networks to bypass traditional restrictions.
2026 Outlook
The U.S. is showing that it will continue to enforce “follow the money” strategies across all channels, and more sanctions are likely. This development adds to cautious feelings in the crypto market, along with major events like the FOMC, and points to both risks and the growing maturity of compliance systems in digital assets.
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