US Hits Iranian Officials as Crypto Exchanges Enter Sanctions List

Key Takeaways

• US sanctions hit senior Iranian officials over protest crackdowns.
• First-ever crypto exchanges linked to Iran are sanctioned.
• Treasury warns Iran is using digital assets to evade sanctions.

The measures were issued by the Office of Foreign Assets Control and include Iran’s interior minister Eskandar Momeni Kalagari, who supervises national security forces blamed for mass killings, arrests, and enforced disappearances.

Several senior commanders from the Islamic Revolutionary Guard Corps and Iran’s law enforcement apparatus were also sanctioned for their roles in suppressing protests across multiple provinces.

Crackdown Extends to Financial Networks

Beyond security officials, the Treasury moved against Babak Morteza Zanjani, an Iranian businessman previously convicted of embezzling billions of dollars in oil revenue. US officials say Zanjani was released from prison to help launder money for the regime and later financed large infrastructure projects linked to the IRGC.

Treasury officials argue these financial networks are critical to sustaining Iran’s internal repression and regional operations, making them a key target of the sanctions campaign.

First-Ever Sanctions on Crypto Exchanges Linked to Iran

In a landmark step, OFAC sanctioned two UK-registered digital asset exchanges, Zedcex Exchange and Zedxion Exchange, citing their alleged role in processing funds connected to IRGC-linked wallets. Treasury said this marks the first time a digital asset exchange has been designated for operating within Iran’s financial sector.

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According to the announcement, Zedcex has processed more than $94 billion in transactions since 2022, with multiple addresses tied to entities under US sanctions.

Trump Administration Signals Escalation

Treasury Secretary Scott Bessent said the actions were ordered by President Donald Trump as part of a broader push to intensify economic pressure on Tehran. He accused Iran’s leadership of diverting oil revenues toward weapons programs, terrorism, and cyber operations, while increasingly turning to digital assets to evade sanctions.

The new designations freeze any assets under US jurisdiction and prohibit US persons from transacting with the sanctioned parties. Treasury also warned that foreign banks and companies could face penalties if they facilitate dealings with the listed individuals or entities.

US officials added that the measures are designed to disrupt Iran’s shadow financial system while maintaining support for internet access and communication tools for Iranian civilians during ongoing restrictions and blackouts.

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