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US freezes $344M in Iran-linked crypto, warns oil hub nearing breaking point

US freezes $344M in Iran-linked crypto, warns oil hub nearing breaking point

The U.S. Treasury Department has frozen more than $344 million in cryptocurrency tied to Iran and is ramping up efforts to choke off the regime’s access to global revenue streams as part of an ongoing pressure campaign, officials said.

The actions are part of Operation Economic Fury, a broader campaign aimed at squeezing Iran’s economy by limiting its ability to sell oil abroad. The campaign is part of the administration’s broader “maximum pressure” strategy targeting Iran’s economy and oil exports.

A Treasury official said the department has disrupted billions of dollars in projected…

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