The United States seized nearly $500 million in Iranian cryptocurrency assets as part of Operation Economic Fury, targeting crypto wallets, bank accounts, and oil revenue. Treasury Secretary Bessent stated that this action, ordered by President Trump in March 2025, aims to restrict Iran’s access to funds through asset seizures and sanctions. The move has contributed to inflation in Iran and intensified pressure on its oil exports, including attempts to collect tolls for ships transiting the Strait of Hormuz.