The United States government has expanded its enforcement actions under the ongoing military blockade and financial warfare campaign against Iran. Treasury Secretary Scott Bessent announced on May 29, 2026, that federal authorities have intercepted and secured a large volume of digital assets tied to the Iranian government and its regional affiliates. The enforcement action is part of Operation Economic Fury, an economic isolation strategy authorized by President Donald Trump in March 2025 to disrupt funding networks across the Middle East.
According to officials, the total seized Iranian cryptocurrency assets have reached the $1 billion mark following recent operations. Federal agencies issued warnings regarding international financial compliance, stating that any entities attempting to facilitate sovereign Iranian digital transactions will face immediate exclusion from the western banking system. The measures coincide with a tight naval blockade blocking oil shipments at Kharg Island.
The current figures mark a significant increase from late April 2026, when total frozen assets stood at roughly $500 million, a sum that included a verified $344 million in the stablecoin USDT. Stablecoin operator Tether worked alongside federal investigators to trace and freeze the funds, which the Treasury Department stated were destined for regional proxy forces including Hezbollah and Hamas.
The broader economic pressure campaign has severely altered the internal financial stability of Iran. The value of the Iranian rial decreased by 60% to 70% against the US dollar, following the previous insolvency and closure of a major Iranian commercial bank in December 2025. Secretary Bessent confirmed that secondary sanctions are now active against foreign institutions that clear transactions involving Iranian petroleum products.