The US has frozen $344 million in cryptocurrency allegedly linked to Iran as the two countries fail to reach a truce deal despite several attempts at diplomatic efforts.

While Iran and the US are currently in a fragile ceasefire, the Trump administration has ramped up economic pressure on Tehran. However, it is unclear whether this sum will have an impact on Iran’s approach to the war.

US Treasury Secretary Scott Bessent said on Friday that the agency is “sanctioning multiple wallets tied to Iran.”