US Slaps Fresh Sanctions on Iran’s Digital Asset Network After Hormuz Attacks

Amid escalating tension in the Middle East, the United States has taken another major economic step against Iran. Responding to recent attacks on commercial vessels in the Strait of Hormuz, the US has imposed strict sanctions on Iran's illicit "digital asset network." The action targets six Iranian entities and one key individual.

Billions of Dollars Routed Through Crypto Network

According to the US State Department, the sanctions cover two major Iranian digital asset exchanges and the mastermind running the entire network. Washington alleges that Iran was using these digital platforms to launder billions of dollars.

A State Department spokesperson made clear that Iran raises funds through these illicit digital channels to finance its military operations, terrorism and nuclear programme. Alongside the sanctions, the US announced a reward of $15 million (roughly ₹125 crore) under its "Rewards for Justice" programme for information that helps dismantle the financial network of Iran's Islamic Revolutionary Guard Corps (IRGC).

Trump Says Dispute Could End Soon

The action comes at a time when US President Donald Trump has expressed hope that the conflict will end soon. Trump said talks over the security of vessels in the Strait of Hormuz are moving in the right direction and that the matter could be resolved shortly.

However, Trump also stated that Iran will not be allowed to acquire nuclear weapons under any circumstances. He said America's objective is to protect its allies and keep international shipping routes secure.

Iran Warns of a Befitting Response

Tehran has rejected the US action and Trump's statements. Iran's acting Defence Minister, Brigadier General Seyed Majid Ibn Reza, said the country's armed forces are fully prepared to give a befitting response to any attack by the US or Israel.

Meanwhile, Speaker of Iran's parliament Mohammad Bagher Ghalibaf accused the US of engaging in superficial diplomacy. Diplomatic channels between the two countries have grown even more difficult since the 14-point peace agreement collapsed in June.