TechFlow, September 17 — According to Financefeeds, the U.S. Department of the Treasury announced sanctions on Iranian financial operatives and associated foreign corporate networks, accusing them of helping Tehran transfer oil revenues via cryptocurrency.
The sanctions target two Iranian nationals, Alireza Derakhshan and Arash Estaki Alivand, whom U.S. officials say are central figures in a scheme involving over $100 million in cryptocurrency transfers linked to Iranian oil sales. The funds reportedly flowed through a network of shell companies based in Hong Kong and the UAE before being repatriated to support Iran's government operations and military equipment.
The sanctions took effect on September 16, freezing U.S.-related assets of the designated individuals and prohibiting American citizens and businesses from engaging in transactions with them. The Treasury stated that Tehran is increasingly relying on alternative financial channels such as cryptocurrency to move funds and circumvent oversight and traditional banking systems.
