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Bessent Says Treasury Hit Iran's Crypto Access Channels in Sanctions Push
Scott Bessent said Treasury sanctions targeted Iran’s shadow banking network, cryptocurrency access channels, oil trade support system, and proxy funding, disrupting hundreds of billions of dollars in revenue. Bessent said Tehran’s inflation rate has doubled and Iran’s currency has depreciated rapidly under the maximum pressure campaign. Bessent said Kharg Island is nearing storage limits, which could force oil production cuts and cost Iran about $170 million a day.