Washington, DC: The United States has imposed sanctions on six entities and one individual accused of supporting Iran’s illicit digital asset and financial operations, the State Department said on Friday.
The measures target two digital asset exchanges that Washington alleges are used by the Iranian government to maintain access to international financial networks, along with an individual described as the head of a wider network involved in illicit digital asset activities.
US State Department spokesperson Tommy Pigott said the targeted network enables Iran to move large amounts of illicit funds through digital asset platforms and other financial channels.
According to the department, the sanctioned individual operates companies across several jurisdictions that facilitate these activities.
Washington said the action was also prompted by Iran’s recent attacks on commercial vessels in the Strait of Hormuz. The US administration said it intends to restrict financial resources that it believes could be used by Tehran to threaten neighbouring countries, support terrorism or advance its nuclear programme.
The sanctions were imposed under Executive Order 13902, which provides authorities to target individuals and entities operating in Iran’s financial and petroleum sectors. They also invoke Executive Order 13224, a counterterrorism measure used against organisations and individuals associated with terrorism financing.
US offers reward for information on IRGC finances
Alongside the sanctions, the State Department’s Rewards for Justice programme announced a reward of up to $15 million for information that could help disrupt financial mechanisms supporting Iran’s Islamic Revolutionary Guard Corps (IRGC) and its affiliated organisations.
The announcement underscores Washington’s broader effort to restrict the financial infrastructure that it says enables Iran’s regional activities.
The latest measures come as tensions remain high around the Strait of Hormuz, a critical maritime route through which a significant share of global energy shipments passes.
Trump signals possibility of ending conflict
The sanctions were announced a day after US President Donald Trump said he believed the conflict involving Iran could end soon, while maintaining that Tehran would not be permitted to obtain a nuclear weapon.
Speaking at the White House on Thursday, Trump said negotiations concerning the Strait of Hormuz were progressing and indicated that he remained directly involved in the discussions.
He also reiterated that preventing Iran from developing nuclear weapons remained a central objective of US policy.
Tehran warns against military threats
Iran, meanwhile, has continued to signal that it is prepared to respond to military action.
Earlier this week, Acting Defence Minister Brigadier General Seyed Majid Ibn Reza said Iran’s armed forces were ready to deliver what he described as a decisive response to any aggression, particularly from the United States or Israel.
The latest US action comes amid uncertainty surrounding efforts to revive diplomacy between Washington and Tehran following the collapse of a 14-point memorandum reached in June with the aim of ending hostilities.
Iranian Parliament Speaker and chief negotiator Mohammad Bagher Ghalibaf has accused Washington of engaging in what he called “theater diplomacy” and rejected US pressure tactics.
US Vice President JD Vance, meanwhile, has acknowledged that negotiations could prove difficult and lengthy because of differences within Iran’s leadership.
The sanctions add another layer to the already tense US-Iran standoff, combining financial pressure with ongoing diplomatic efforts focused on the conflict, maritime security and Tehran’s nuclear ambitions.