The tension between the US and Iran, which has been ongoing for months, is still not over. Although steps towards a compromise have been taken, the two countries have yet to reach a final agreement, and the US has made a new move.
Accordingly, the US has implemented a new sanctions measure that will further increase economic pressure on Iran. Under the new campaign announced by Treasury Secretary Scott Bessent, the US aims to sever Iran’s economic ties on a global scale, while also sending a message that third parties trading with Iran could face secondary sanctions.
Cryptocurrency Sector Also Subject to Sanctions!
The US Treasury Department announced it has expanded sanctions against Iran to include cryptocurrency, gold, technology, aviation, and maritime sectors, launching “Operation Economic Exclusion.”
Secretary Scott Bessent stated that the U.S. has launched “Operation Economic Exclusion” to block all options supporting Iran, adding, “Countries that maintain any form of economic ties with the Iranian regime will face strong U.S. sanctions.”
One of the striking aspects of the new sanctions strategy at this point is the explicit inclusion of digital assets and the cryptocurrency ecosystem within the scope of sanctions pressure. The US administration argues that Iran is using digital assets and cryptocurrency platforms to circumvent sanctions and transfer funds outside the international financial system.
The statement said that detailed checks would be carried out through the Office of Foreign Assets Control (OFAC).
Approximately 60 Individuals, Organizations, and Ships Are Targeted!
The US Treasury Secretary announced that more than 60 individuals, entities, and vessels worldwide have been added to the new sanctions list.
However, the most striking aspect of the statements was the explicit warning from the US that sanctions could also affect other countries trading with Iran. It was reported that the US warned of significant sanctions against major financial companies linked to Iran.
China Responds!
Following the US statements regarding Iran, a remarkable reaction came from China, one of the world’s largest economic powers.
Chinese Foreign Ministry spokesman Lin Jian said at a press conference that China-Iran cooperation is being conducted within the framework of international law and should not be disrupted by interference from third parties.
Jian also warned that the U.S. policy of economic repression could create new risks for the global economic and financial order instead of solving problems.
The Chinese spokesperson also stated that Beijing would take all necessary measures to protect its legitimate rights and interests.
*This is not investment advice.