US Seizes $1 Billion in Iranian Cryptocurrency, Escalating Pressure Campaign

The United States has launched an operation to seize Iranian cryptocurrency worth $1 billion, as part of a broader effort to target Tehran's financial networks. The move is seen as a significant escalation in the US's pressure campaign against Iran.

According to Treasury Secretary Scott Bessent, the operation, dubbed 'Economic Fury,' aims to disrupt Iran's ability to access its foreign assets and funds. The secretary noted that the administration's efforts have had a devastating impact on the Iranian economy, with inflation exceeding 200 percent and military personnel not receiving their paychecks.

In addition to seizing cryptocurrency, the US has also taken steps to crack down on Tehran's global shadow banking networks and designated networks supplying weapons and other military components to Iran. The secretary stated that the administration is targeting overseas real estate and other assets that are believed to be proceeds diverted from the Iranian people.