Shipping Companies Warned of Sanctions Risk from Cryptocurrency Payments to Iran

Shipping companies that consider using cryptocurrency to pay transit fees to Iran may be exposing themselves to significant sanctions risks, experts warn.

The Iranian regime is subject to comprehensive US sanctions, and payments to the Revolutionary Guard Corps could be seen as material support under existing international rules.

Kaitlin Martin, a senior intelligence analyst at Chainalysis, noted that cryptocurrency transactions create a permanent and transparent record, making them easier for investigators to track than traditional financial channels.

Blockchain data suggests that Iran has been increasingly using digital assets, particularly stablecoins, to support trade involving oil, weapons, and other commodities.