US Expands Sanctions to Iran’s Crypto Sector, Citing $100M in Oil Payments

What happened: The US Treasury’s Office of Foreign Assets Control (OFAC) has broadened sanctions to include Iran’s digital asset sector, targeting any person or entity operating in the country’s crypto industry. The action specifically names Ivan Obukhov, a UAE-based broker, and his company Foscom FZE, which allegedly processed over $100 million in crypto payments since 2023 to facilitate oil sales for the IRGC-Quds Force. The package also covers roughly 60 additional entities and individuals across Iran’s nuclear, missile, cyber, and oil networks. This follows earlier crackdowns on Iranian crypto exchanges and wallets, with Treasury previously reporting ~$1B seized from Iranian-linked platforms in June 2026.

Why it matters: The sectoral determination significantly increases compliance risks for global crypto businesses interacting with Iranian entities. By framing digital assets as Iran’s “tool of choice” for sanctions evasion, US authorities are signaling heightened scrutiny and potential secondary sanctions. The absence of disclosed wallet addresses or specific stablecoins in public documentation limits transparency but underscores the growing intersection of crypto and geopolitical enforcement.

Source: Cointelegraph