US escalates Iran pressure with sanctions on crypto, aviation, shipping and gold as part of ‘economic D-Day’

The U.S. Treasury Department is zeroing in on digital assets it says are being used to bolster Iran’s economy as part of what officials have described as an "economic D-Day."During a press conference on Monday, Treasury Secretary Scott Bessent debuted the Trump administration's plan to impose secondary sanctions to target Iran's sources of revenue, specifically when it comes to digital assets, technology, aviation, gold, and shipping."These measures broaden secondary sanctions risk for anyone foolish enough to continue conducting business with this regime—and accelerate the speed with which we pursue them," Bessent said.For next steps, the Treasury, State Department and the military are meeting with global stakeholders, and Bessent said that "every country has a defined timeline to shut down activities we have identified."The announcement comes as the U.S. and Iran remain in an ongoing conflict that began last year with initial strikes that killed the Islamic Republic's Supreme Leader Ayatollah Ali Khamenei.The U.S. has imposed a series of sanctions, including targeting Iran's oil revenue and shipping. As for crypto, in June the U.S. sanctioned Iran's largest crypto exchange Nobitex and said it was a key player in sanctions evasion, terrorist financing and transactions linked to Iran's Islamic Revolutionary Guard Corps. As of May, the U.S. has also seized almost $1 billion in crypto from Iran, according to Bessent.Monday’s sanctions also included a number of digital asset addresses. Among them were addresses tied to Arman Kahzadian, whom the Treasury Department said "gained control of a wallet that held over $30,000 worth of Bitcoin" in 2023.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.