U.S. Treasury Broadens Iran Sanctions to Cover Digital Assets, Targets UAE-Based Broker

The U.S. Treasury Department has expanded its sanctions framework to encompass Iran's digital asset sector, citing growing use of cryptocurrencies to bypass restrictions and transfer funds. According to the Treasury, Iran has increasingly relied on crypto channels to evade sanctions, and more than $100 million in cryptocurrency payments are alleged to have supported Iranian oil sales. The Office of Foreign Assets Control (OFAC) also added UAE-based broker Ivan Obukhov and his firm, Foscom FZE, to its sanctions list. The move builds on earlier actions that targeted Iranian crypto exchanges and wallet addresses.

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