U.S. Treasury Secretary Scott Bessent announced the launch of the "Economic Orphan" action, which targets nearly 60 Iranian entities with sanctions, including cryptocurrency service providers. The move is aimed at cutting off financial channels Iran uses to evade sanctions. Bessent also said the U.S. will keep using financial tools to apply pressure.
U.S. Treasury Secretary Scott Bessent announced the launch of the "Economic Orphan" action, slapping sanctions on nearly 60 Iranian entities, including cryptocurrency service providers.
The step is aimed at choking off the financial channels Iran uses to evade sanctions. Bessent said Iran's actions on their own cannot end the conflict, and the U.S. will keep using financial tools to sustain pressure.
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