U.S. Treasury Secretary: Has Targeted Iran's Cryptocurrency Usage Channels

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Mars Finance News: U.S. Treasury Secretary Scott Bessent posted on the X platform that the Treasury Department has taken action against Iran’s international shadow banking infrastructure, cryptocurrency access channels, shadow fleets, weapons procurement networks, funds for regional terrorist proxies, and Chinese independent refineries supporting Iran’s oil trade through economic sanctions. These actions have disrupted hundreds of billions of dollars in revenue that could have been used to fund terrorism. Under the highest pressure campaign by the U.S. president, Tehran’s inflation rate has doubled, and its currency has rapidly depreciated. Iran’s main oil export terminal, Kharg Island, is nearing its oil storage capacity, which will force the regime to cut oil production, resulting in an additional daily loss of about $170 million in revenue and causing permanent damage to Iran’s oil infrastructure. The Treasury will continue to apply maximum pressure; any individuals, ships, or entities assisting Tehran’s illegal flows face the risk of U.S. sanctions.

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