U.S. Treasury Expands Sanctions to Iran’s Digital Asset Sector and Targets $100 Million Crypto Oil Network

The U.S. Treasury announced a sweeping expansion of sanctions that now includes Iran’s digital‑asset sector, giving the Office of Foreign Assets Control (OFAC) authority to sanction any foreign individual or entity that operates in or supports that sector. The move is part of Operation Economic Outcast, launched on Aug. 24, 2026, and targets nearly 60 entities, individuals and vessels linked to Iran’s nuclear, missile, cyber and oil networks.

Sectoral Determination Adds Digital Assets

Under Executive Order 13902, OFAC added Iran’s digital‑asset sector to a list that already covered aviation, gold, shipping and technology. The determination allows OFAC to impose secondary sanctions on any global party that provides services to, or otherwise supports, Iran’s crypto ecosystem.

Broker Accused of Moving $100 Million for Oil Sales

The Treasury singled out Ukrainian national Ivan Obukhov, a broker based in the United Arab Emirates, for allegedly processing more than $100 million in cryptocurrency payments that funded oil shipments for the Islamic Revolutionary Guard Corps‑Qods Force and its proxies since 2023.

Crypto Wallets Tied to Iranian Cyber Operations Sanctioned

OFAC also designated a cyber‑espionage group within Iran’s Ministry of Intelligence and Security, blocking Bitcoin, Ethereum and TRON wallets linked to group leaders and members. The sanctions follow a superseding indictment that named 17 members of the hacking‑for‑hire operation known as the Mabna Institute.

Implications for Global Crypto Businesses

For the first time, digital assets are treated as a distinct sector of the Iranian economy subject to secondary sanctions. This expands compliance risk for foreign crypto exchanges, custodians and service providers that may have dealings with Iran‑linked counterparties.

Enforcement Tools

Public blockchain records enable investigators to trace transactions to sanctioned addresses, aiding compliance teams in identifying exposure.